SteelMint’s domestic steel scrap (end-cutting) index moved down by INR 150/tonne (t) to INR 44,600/t DAP Mandi Gobindgarh on 14 October, 2022.
Today, steel ingot prices in Mandi saw a marginal correction of INR 200/t d-o-d to INR 50,300/t at the time of reporting and price normalisation.
Trading in semi-finished and finished steel remained limited with only need-based purchases taking place. Also liquidity issues persisted in the market, slowing down buying activity in the market.
Ship-breaking melting scrap prices in Gujarat’s Alang market decreased by INR 300/t d-o-d, as per SteelMint assessment. HMS (80:20) prices are assessed at INR 40,900/t exy.
Market highlights–
End-cutting and ingots spread: In Punjab, the spread between end-cutting scrap and ingots was unchanged at INR 5,500-5,700/t today.
Domestic and imported scrap price gap: Imported melting scrap prices at Nhava Sheva Port were at around $440-445/t, while local scrap – HMS (80:20) – prices in Mumbai were assessed at INR 39,200/t.
Raipur sponge iron-billet spread: The current conversion spread (margins) from pellet-based DRI (P-DRI) to steel billets in Raipur stands at around INR 16,300/t.
To see SteelMint’s Melting Scrap Assessment, pricing methodology and specification documents, Click here
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