- Raw material costs spike across segments
- Moderate demand tempers trade activity
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, increased by INR 900/tonne (t) d-o-d to INR 38,900/t DAP on 30 March 2026.Scrap prices witnessed a jump of INR 900-1,000/t today.
Mandi Gobindgarh witnessed a sharp scrap price spike today, with both scrap and semi-finished steel prices surging INR 900-1,000/t due to acute shortages from halted Middle East imports amid geopolitical tensions, high USD-INR rates, elevated freight, and container costs pressuring Indian buyers to pause further transactions.
A mill owner informed: “Today’s market posted firm prices despite moderate steel demand, driven by selective credit buyers and essential spot bookings-with no major deals closing amid persistent uncertainty in the secondary segment.”
Geopolitical tensions have halted Middle East scrap arrivals, creating visible shortages across northern India-while gas constraints shift mill preferences away from oversize material. HMS suppliers are commanding premiums in response, driving regional scrap prices up INR 1,000/t day-on-day.
Alternative raw material prices
Sponge iron (CDRI) prices in Mandi Gobindgarh climbed by INR 1,100/t d-o-d to INR 33,700/t DAP. In contrast, steel-grade pig iron prices in Ludhiana jumped by INR 1,850/t to INR 41,650/t DAP.
Steel market trends
In Mandi Gobindgarh, semi‑finished steel (ingot) prices improved by INR 900/t d-o-d to INR 45,000/t DAP, reflecting moderate demand. In other major production centres, ingot prices similarly increased by INR 900-1,800/t d-o-d.
Rebar (Fe500) prices in Mandi Gobindgarh increased by INR 1,000/t to INR 50,600/t exw, today.
Overview of Jalna market
In the western India based Jalna market, billet prices surged by INR 2,300/t to INR 45,500/t, while rebar prices increased by INR 1,500/t to INR 53,300/t. Meanwhile, HMS (80:20) scrap prices rose by INR 400/t to INR 33,400/t. Active trading was observed across the steel segment in today’s session in the region. Market participants noted that the ongoing LPG supply issue is disrupting cutting operations, leading to panic buying and supporting the sharp price increase.
Price highlights
End-cutting to billet spread: In Mandi, the spread between end-cutting scrap and billets stood in the range of INR 5,900-6,300/t.
Domestic vs imported scrap: Imported melting scrap prices at Nhava Sheva Port were assessed at $368-$370/t, approximately INR 37,300/t (inclusive of freight). HMS (80:20) prices in Mumbai increased by INR 100/t d-o-d to INR 35,100/t DAP. Indicative prices of shredded from Europe stood at $390-$392/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 15,450/t.
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