India:Foundry scrap markets see slight price gains amid consistent demand

• Foundry scrap prices in major clusters edge up this week
• Steady demand, selective buying keep market sentiment positive

Foundry scrap prices across major domestic clusters indicate a modestly bullish trend this week. Kolkata remains stable with no change in plate cutting scrap prices, while Kolhapur and Chennai have seen incremental gains of INR 200-300/t across CR-busheling and plate cutting grades.

The overall sentiment remains cautiously positive, supported by consistent demand from automotive and agricultural sectors. Price movements are moderate, reflecting a stable market with selective buying interest rather than aggressive speculative activity.

Western India: Kolhapur market sees modest gains

Kolhapur prices inched higher this week, reflecting steady demand amid controlled scrap arrivals.
• CR-busheling (low-manganese, bundled) rose by INR 200/t w-o-w to INR 39,000/t
• Plate cutting scrap (LS and LP, loose) increased by INR 200/t to INR 36,000/t

Market participants noted that foundries continued selective procurement, with price support coming from consistent but cautious buying rather than bulk restocking.

Southern India: Chennai market strengthens 

Chennai saw incremental price gains across key grades, buoyed by steady demand from automotive and engineering sectors.
• CR-busheling (low-manganese, bundled) increased by INR 300/t to INR 38,800/t
• Plate cutting scrap (LS & LP, loose) remained unchanged at INR 35,500/t

Traders highlighted balanced supply-demand conditions, with medium and large foundries engaging in selective restocking, keeping the market sentiment firm.

Eastern India: Kolkata prices remain stable

Kolkata witnessed stable prices, as scrap availability met local demand.
• Plate cutting scrap (LS & LP, loose) remained unchanged at INR 36,000/t

Participants noted that while demand was steady, absence of supply constraints kept prices range-bound.

Demand scenario 

Demand from automotive castings remained stable, while tractor and agricultural machinery segments continued to provide incremental support. However, most foundries remained disciplined in procurement, with operational rates comfortable and inventory levels under control.