- Sponge iron prices increase by INR 100
- Semi-finished steel prices improve by INR 100/t
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, increased by INR 100/t d-o-d to INR 35,700/t DAP on 11 August 2025. The domestic scrap market witnessed renewed buying interest today, signaling optimism for increased demand in finished steel over the coming week.
In parallel, the HR strip (patra) segment in Mandi recorded a price uptick of INR 200/t d-o-d, reflecting improved sentiment and movement in secondary steel markets. Meanwhile, the TMT segment saw average trading activity, with prices remaining rangebound and showing no significant change,
Additionally, billet prices also firmed up by INR 100/t, indicating a potential upward trend as buying activity picks up across key regions.
Raw material prices
Sponge Iron prices in Mandi edged up by INR 100/t d-o-d, reaching INR 30,000/t DAP, signaling steady demand in the raw material segment. Meanwhile, Pig Iron prices in Ludhiana held firm for the fourth consecutive day, maintaining a stable level at INR 35,800/t DAP.
Steel market trends
The semi-finished steel segment in Mandi Gobindgarh witnessed a price increase of INR100/t d-o-d, with ingot prices rising to INR 40,600/t DAP. Across key steel hubs, daily price movements ranged between INR 50 and INR 200/t, reflecting a cautiously optimistic market sentiment.
In the finished steel sector, Rebar (Fe 500) prices remained steady at INR 45,600/t ex-works, showing no significant change from the previous day. Conversely, HR strip (Patra) prices experienced a notable jump of INR 200/t, settling at INR 43,000/t, driven by improved market activity and buyer interest.
Overview of Mumbai market
Rebar (Fe 500) prices on the Mumbai IF route remained stable at INR 45,900/t exw. Limited buying interest, with buyers limiting purchases to immediate requirements . Meanwhile, scrap (HMS 80:20) is trading at INR 31,500/t DAP, and the conversion spread between scrap and billet is around INR 9,000/t.
Price highlights
End-cutting-billets spread: In Mandi, the end-cutting scrap and billet spread stood at INR 4,800-5,200/t.
Domestic vs imported scrap: Imported melting scrap prices at Nhava Sheva Port were at $335/t, which equates to approximately INR 31,581/t (including freight). HMS (80:20) prices in Mumbai rose by INR 200/t to INR 31,500/t DAP today. Indicative prices of shredded from Europe stood at $365/t CFR Nhava Sheva.
Raipur sponge iron-billet spread: The conversion spread (margin) between pellet-based DRI (P-DRI) and steel billets in Raipur stood at INR 13,250/t.
To check BigMint’s melting scrap assessment, pricing methodology, and specification documents, click here.
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