- Alternate raw material prices rise INR 100-200/t d-o-d
- Semis, finished steel prices jump INR 200-600/t today
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, improved by INR 400/tonne (t) to INR 34,900/t DAP on 8 September 2025.
Scrap prices in Mandi Gobindgarh witnessed a sharp rise of INR 400-800/t today, driven by an improvement in semi-finished and finished steel tags across the region. Demand in the steel sector showed a slight improvement after a prolonged lull caused by halted operations. Favourable weather conditions supported market activity, prompting active buying interest. Overall, the steel and scrap market in Mandi displayed renewed momentum amid improving demand fundamentals.
Alternative raw material prices
Sponge iron (CDRI) prices in Mandi edged up by INR 200/t d-o-d to INR 30,400/t DAP, supported by modest demand improvement. Meanwhile, pig iron prices in Ludhiana gained INR 100/t, closing at INR 35,500/t amid slightly better regional demand.
Steel market updates
Semi-finished steel (ingot) prices in Mandi Gobindgarh surged by INR 550/t d-o-d to INR 40,000/t DAP, with a broader uptrend of INR 200-800/t across key production hubs. Muzaffarnagar and Ghaziabad notably saw an INR 800/t rise d-o-d.
In the rebar (Fe500) segment, Mandi prices increased by INR 200/t d-o-d to INR 44,200/t exw, supported by moderate demand. The HR strip (patra) segment experienced stronger buying momentum, with prices climbing up by INR 600/t to INR 42,800/t ex-works, following heightened demand in the previous session.
Alang market
Ship-breaking melting scrap prices in Alang, Gujarat, remained stable on 8 September 2025. BigMint assessed HMS (80:20) at INR 31,700/t ex-yard. The regional market experienced average trade volumes in semi-finished and finished steel during the last trading session. Additionally, moderate scrap procurement interest from Bhavnagar-based induction furnace mills led suppliers to maintain stable pricing today.
Upcoming scrap auctions
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 $332-$333/t, which equates to approximately INR 31,510/t (including freight). HMS (80:20) prices in Mumbai increased by INR 100/t to INR 31,300/t DAP today. Indicative prices of shredded from Europe stood at $364/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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