- Leading mill announces hike in finished steel prices
- Semis, finished steel prices rise by INR 200-500/t
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, increased by INR 500/tonne (t) d-o-d to INR 35,700/t DAP on 22 December 2025.
Scrap prices in Mandi Gobindgarh, a key secondary steel market, surged today, driven by improved buying from local steel mills. Semi-finished and finished steel prices gained around INR 200-500/t on the back of strong demand in both trading sessions; sentiment was further lifted by news of an anti-dumping duty on Chinese electrical steel imports and a finished steel price hike announcement by a leading primary mill, which together strengthened price expectations and supported active raw material procurement in India’s key secondary steel hub.
Alternative raw material prices
Sponge iron (CDRI) prices in Mandi increased by INR 300/t d-o-d to INR 28,700/t (DAP). Similarly, steel-grade pig iron prices in Ludhiana improved significantly by INR 750/t d-o-d to INR 35,850/t (DAP).
Steel market
Semi-finished steel prices in Mandi Gobindgarh rose by INR 500/t d-o-d to INR 40,700/t (DAP), while ingot prices across major production hubs strengthened by INR 300-1,000/t over the same period. Billet prices in Hyderabad jumped by INR 1,000/t today, marking the largest single-day increase observed across India.
Rebar (Fe 500) prices in Mandi Gobindgarh inched up by INR 200/t d-o-d to INR 45,000/t ex-works, with local mills highlighting healthy buying interest and a firm demand trend in today’s trading session.
Meanwhile, HR strip prices increased by INR 800/t d-o-d to INR 41,400/t ex-works.
Overview of Alang scrap market
The Alang ship-breaking melting scrap market in Gujarat remained stable on 22 December 2025, as per BigMint’s assessment of HMS (80:20) at INR 31,000/t ex-yard. Suppliers maintained firm offers, with semi-finished and finished steel prices holding steady and only moderate scrap demand.
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 4,700-5,100/t.
Domestic vs imported scrap: Imported melting scrap prices at Nhava Sheva Port were assessed at $318/t, approximately INR 30,815/t (inclusive of freight). HMS (80:20) in Mumbai remained stable d-o-d at INR 30,900/t DAP. Indicative prices of shredded from Europe stood at $347-$348/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 14,500/t.
To check BigMint’s melting scrap assessment, pricing methodology, and specification documents, click here.
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