- Sponge iron prices remain firm d-o-d
- Semi-finished steel tags fall INR 100/t
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, remained stable d-o-d at INR 34,100/tonne (t) DAP on 12 November 2025.
Mandi Gobindgarh, a major hub in the secondary steel market, experienced a subdued trend today, as semi-finished steel prices dipped by INR 100/t amid cautious buying. Scrap sourcing remained moderate, with suppliers’ offers holding steady at yesterday’s levels. Mills expect only minor price fluctuations in the current week.
Alternative raw material prices
In the raw material segment, sponge iron (CDRI) prices in Mandi Gobindgarh held firm d-o-d at INR 28,600/t DAP, while steel-grade pig iron prices in Ludhiana remained steady at INR 35,200/t DAP.
Steel market
Semi-finished steel (ingot) prices in Mandi Gobindgarh dipped by INR 100/t d-o-d to INR 38,800/t DAP, with other key production hubs witnessing price decreases within the range of INR 100-300/t in today’s trading.
Rebar (Fe500) prices in Mandi inched up by INR 100/t d-o-d to INR 43,500/t ex-works, despite ongoing input cost pressures. Meanwhile, HR strip (patra) prices remained flat d-o-d at INR 40,000/t ex-works.
Overview of Jalna market
In the western India-based Jalna market, billet and HMS (80:20) scrap prices declined by INR 100/t, settling at INR 37,000/t and INR 29,000/t DAP, respectively, while rebar prices held steady at INR 42,200/t ex-works. Trading activity in finished steel has softened compared to recent sessions, and price trends are likely to remain range-bound in the coming days. Scrap inflows at prevailing offers continue to meet mills’ production needs without major supply pressure.
Auction result
A key auto components manufacturer successfully sold around 1,200 t of CR busheling scrap from its Manesar, Haryana unit, at a competitive price of INR 33,000/t ex-works in an auction held yesterday. This reflects moderate demand in the automotive sector’s recycling and raw material procurement.
Meanwhile, at India’s leading motorcycle manufacturing unit in Tapukara, Rajasthan, 350 t of sheet metal cutting scrap were sold at INR 30,800/t ex-works, signalling active participation and steady pricing in secondary steel markets from key two-wheeler industry players.
Upcoming scrap auctions
Price highlights
End-cutting to billet spread: In Mandi, the spread between end-cutting scrap and billets stood in the range of INR 4,600-4,900/t.
Domestic vs imported scrap: Imported melting scrap prices at Nhava Sheva Port were assessed at $320/t, approximately INR 30,557/t (inclusive of freight). HMS (80:20) in Mumbai moved down by 500/t d-o-d to INR 29,800/t DAP. Indicative prices of shredded from Europe stood at $350/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 12,100/t.
To check BigMint’s melting scrap assessment, pricing methodology, and specification documents, click here.
Leave a Reply