- Sponge iron prices fell by INR 100/t d-o-d
- Finished steel prices climbs INR 300/t d-o-d
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, remained stable d-o-d at INR 35,700/tonne (t) DAP on 23 December 2025.
The Mandi Gobindgarh scrap prices held steady day-on-day amid routine trading volumes, as semi-finished steel prices remained stable with moderate buyer interest, while finished steel segments registered a modest INR 300/t uptick, reflecting a slight improvement in demand during the session. Overall market sentiment stayed balanced, with participants adopting a cautious stance ahead of potential demand cues in India’s key secondary steel hub.
Alternative raw material prices
In the raw material segment, sponge iron (CDRI) prices in Mandi Gobindgarh fell by INR 100/t to INR 28,600/t DAP, while steel-grade pig iron prices in Ludhiana rose by INR 100/t to INR 39,950/t DAP.
Steel market
Semi-finished steel (ingot) prices in Mandi Gobindgarh held firm day-on-day at INR 40,700/t DAP, with other key production hubs witnessing price increases within the range of INR 100-400/t in today’s trading.
Rebar (Fe500) prices in Mandi increased by INR 300/t day-on-day to INR 45,300/t ex-works amid a slight improvement in trade inquiries observed. Meanwhile, HR strip (patra) prices remained stable d-o-d at INR 41,400/t ex-works.
Overview of Alang scrap market
On 23 Dec’25, Alang ship-breaking scrap (HMS 80:20) prices climbed INR 300/t d-o-d to INR 31,300/t exy per BigMint data, fueled by renewed mill inquiries after three days of closure, alongside regional semi-finished and finished steel upticks of INR 500-700/t yesterday.
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 30,775/t (inclusive of freight). HMS (80:20) in Mumbai increased by INR 100/t to INR 31,000/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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