- Sponge iron prices surge INR 975/t w-o-w
- Semis, finished steel prices rise INR 150-300/t w-o-w
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market remained stable d-o-d at INR 38,400/t DAP on 13 Feb 2026. Moreover, the index rose by INR 180/t w-o-w, while other scrap grades saw sharp improvements of INR 200-470/t this week.
In Mandi, a key secondary steel hub in India, exhibited an uptrend in prices from raw materials to finished steel, fuelled by a slight demand increase compared to last week. While project-based demand stayed moderate to below moderate, the primary driver was primary mills’ announcement of finished steel price hikes for February.
A mill owner informed, “Demand for scrap remained moderate this week in Mandi, with large-scale mills operating at full capacity while medium-scale mills ran at 60-70% utilization. Domestic steel scrap arrivals were strong in week 7, and mills favoured it over imports due to better price viability.”
Alternative raw material prices
Sponge iron (CDRI) prices in Mandi Gobindgarh remained stable d-o-d at INR 32,200/t (DAP), rising by INR 975/t w-o-w.
Steel-grade pig iron prices in Ludhiana stayed unchanged d-o-d, assessed at INR 40,200/t (DAP), remaining constant w-o-w.
Steel market dynamics
In the semi-finished steel segment, ingot prices in Mandi Gobindgarh remained stable d-o-d at INR 44,800/t DAP, while prices across other major production hubs strengthened by INR 100/t over the same period. W-o-w, ingot prices in Mandi rose by INR 155/t.
Rebar (Fe 500) prices in Mandi Gobindgarh remained unchanged d-o-d at INR 49,700/t. W-o-w, prices increased by INR 300/t.
Overview of Alang market
On 13 February, Gujarat’s Alang saw ship-breaking melting scrap prices drop INR 200/t d-o-d. BigMint assessed HMS (80:20) at INR 33,000/t ex-yard amid sluggish semi-finished and finished steel trade yesterday, which fell another INR 100/t. Suppliers trimmed offers today due to moderate local 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 6,300-6,600/t
Domestic vs imported scrap: Imported melting scrap prices at Nhava Sheva Port were assessed at $340/t, approximately INR 33,108/t (inclusive of freight). HMS (80:20) prices in Mumbai remained stable for three consecutive days at INR 33,500/t DAP. Indicative prices of shredded from Europe stood at $368-$370/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 14,200/t.
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To check BigMint’s melting scrap assessment, pricing methodology, and specification documents, click here.
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