- Demand remains steady, need-based trades continue
- Price hikes expected amid prime-grade supply crunch
Foundry scrap prices in India remained largely stable w-o-w as of 03 March 2026, supported by steady demand from the automotive and engineering casting segments. Buying activity continued on a need-based basis, with most foundries maintaining comfortable inventory levels. Except for eastern India, major regional markets witnessed no price change during the week, reflecting balanced supply-demand conditions across key hubs.
In western India, Kolhapur prices remained unchanged w-o-w. Foundry plate (4-8 mm) was assessed at INR 38,000/t, while CR-busheling (Low Mn, 8×8/10×10) held steady at INR 41,200/t. Market participants indicated that consistent procurement from auto-component manufacturers prevented any downside pressure; however, the absence of aggressive restocking capped upward momentum.
Southern markets also reported stable trends. In Chennai, foundry plate (8-50 mm) was steady at INR 38,000/t and CR-busheling (low Mn, 8×8/10×10) remained at INR 41,000/t. Similarly, Coimbatore prices were unchanged, with foundry plate (8-50 mm) at INR 39,000/t and CR-busheling at INR 41,500/t. Adequate scrap availability and steady casting demand kept prices range-bound, as procurement remained largely requirement-driven.
In eastern India, Kolkata was the only region to record a price increase during the week. Foundry plate (4-8 mm) rose by INR 200/t w-o-w to INR 38,000/t from INR 37,800/t. Market sources attributed the uptick to continued supply tightness in the region, which supported prices despite measured buying activity.
Outlook
Foundry scrap prices are expected to gain in the near term, supported by improved casting demand and a shortage of prime-grade material. Tight availability, particularly of CR-busheling and quality plate scrap, may lend further support to prices if buying interest improves across key consuming regions.
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