SteelMint’s domestic steel scrap (end-cutting) index inched up by INR 100/tonne (t) to INR 42,700/t DAP Mandi Gobindgarh on 19 December, 2022.
Scrap supply has still not improved in the domestic market. This, coupled with a rise in semis’ prices, amid limited demand for the same, lifted the index marginally.
Ingots prices in the Mandi market today rose by INR 100/t to INR 47,700/t DAP, at the time of reporting and price normalisation.
However, except the Mandi and Maharashtra markets, scrap prices in all other regions either remained stable or showed some downtrend.
Snapshots of other markets
Alang: Ship-breaking melting scrap prices in Alang, Gujarat, opened stable d-o-d today. As per SteelMint’s assessment, HMS (80:20) prices are assessed at INR 38,100/t exy. Despite an increase in semi-finished and finished steel prices in the last trading session in the region, limited buying enquiries for scrap at current prices prompted suppliers to keep their offers stable today.
Jalna: In western India-based Jalna market, billets and rebars prices remained stable today, while HMS 80:20 prices increased by INR 700/t to INR 38,600 DAP.
Price highlights
End-cutting and billets spread: In Mandi, the end-cutting scrap and billets spread was at around INR 5,000-5,200/t.
Domestic and imported scrap price gap: Imported melting scrap prices at Nhava Sheva Port were at around $420-422/t (including freight, it comes to approximately INR 36,900/t), while local scrap – HMS (80:20) – prices in Mumbai were assessed at INR 36,000/t.
Raipur sponge iron-billet spread: The current conversion spread (margin) from pellet-based DRI (P-DRI) to steel billets in Raipur stands at around INR 13,450/t.
To see SteelMint’s melting scrap assessment, pricing methodology and specification documents, Click here
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