India: Foundry scrap prices firm up led by western and southern India

• Steady foundry offtake underpins prices
• Kolhapur plate-cutting trend signals gradual recovery

Foundry scrap prices across India strengthened w-o-w, as assessed on 29 January 2026, supported by steady end-user demand from automotive and engineering casting segments. The uptrend remained gradual and need-based, with buyers largely avoiding aggressive inventory build-up. Price momentum was more visible in western and southern India, in line with improving sentiment and controlled scrap availability, while the eastern markets stayed largely stable.

Western India: Kolhapur prices edge higher 

In Kolhapur, foundry-grade scrap prices continued to trend upward, tracking the gradual rise seen in plate-cutting prices through January. CR-busheling (low Mn, bundled) increased by INR 300/t w-o-w to INR 39,500/t, while plate-cutting scrap (LS & LP, loose) rose by INR 300/t to INR 36,500/t. Market participants noted that steady orders from auto-component and tractor casting units supported prices, though procurement remained largely hand-to-mouth amid adequate availability.

South India: Chennai prices rise on routine restocking

Chennai prices firmed modestly, backed by regular restocking from automotive and engineering foundries. Plate-cutting scrap (LS & LP, loose) increased by INR 200/t to INR 36,200/t, while CR-busheling (low Mn, bundled) rose by INR 250/t to INR 39,250/t. Traders said balanced supply conditions prevented sharper price spikes despite stable consumption.

Eastern India: Kolkata prices hold at elevated levels

In eastern India, Kolkata foundry scrap prices remained unchanged at INR 37,000/t for plate-cutting scrap, as prices were already at the higher end of the regional range. Market participants said the stability reflected ongoing scrap shortages in the cluster, which had pushed prices up in previous weeks, leaving limited room for further upside this week despite steady demand.

Outlook

Foundry scrap prices are expected to remain firm in the near term, supported by steady automotive and agricultural equipment demand. However, further upside is likely to be capped unless scrap availability tightens further or casting order inflows improve materially, as buyers continue to prioritise controlled inventories.