SteelMint’s domestic steel scrap (end-cutting) index improved by INR 100/t to INR 43,400/t DAP Mandi Gobindgarh on 19 October, 2022. Steel ingots prices in Mandi Gobindgarh edged up by INR 150/t d-o-d to INR 49,550/t at the time of reporting and price normalisation.
Scrap prices got some support after a rise in semi-finished steel prices. The domestic steel market was largely inactive today because of the upcoming Diwali festival.
Ship-breaking melting scrap prices in Alang, Gujarat, opened stable d-o-d today, as per SteelMint assessment. HMS (80:20) prices are assessed at INR 39,500/t exy.
Market highlights–
End-cutting and billet 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 $435-445/t, while local scrap – HMS (80:20) – prices in Mumbai were assessed at INR 38,500/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 15,450/t.
To see SteelMint’s Melting Scrap Assessment, pricing methodology and specification documents, Click here
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