India: Foundry scrap prices decline on weak casting demand

• Kolkata prices largely stable amid infra-linked demand
• Production cuts at casting units weigh on southern prices

Ferrous scrap prices across India’s key foundry hubs declined w-o-w on 28 April 2026, reflecting reduced casting activity and margin pressures faced by foundry operators. The downturn was visible across all major clusters, with price corrections of up to INR 1,100/t, indicating demand fatigue across the casting belt.

Region-wise scenario

Southern India

Southern markets witnessed the sharpest corrections, led by Coimbatore.

• Coimbatore’s foundry plate scrap prices fell by INR 1,100/t to INR 43,700/t.
• Chennai’s foundry plate scrap prices declined by INR 750/t to INR 42,250/t.

CR busheling prices also softened.

• Coimbatore was down INR 200/t to INR 45,500/t.
• Chennai prices fell INR 500/t to INR 44,000/t.

The corrections reflect lower offtake from auto-linked casting units and reduced melt shop activity.

Western India (Kolhapur)

The Kolhapur market showed a consistent downtrend across grades.

• Foundry plate scrap prices dropped INR 800/t to INR 41,500/t.
• CR busheling declined by INR 500/t to INR 43,500/t.

Weak demand from engineering segments and inventory pressure at the dealer level led to price corrections.

Eastern India (Kolkata)

Kolkata prices saw a relatively mild correction, with foundry plate scrap down INR 200/t to INR 39,500/t. Compared to other regions, the market remained relatively stable, supported by steady infrastructure-linked casting demand.

Outlook

Near-term sentiment remains bearish to stable with limited upside, as foundries continue cautious procurement amid weak offtake. As such, BigMint believes that scrap dealers may face further pricing pressure due to slow demand and inventory build-up. A recovery will depend on improved auto and engineering demand or tighter scrap supply; until then, prices are likely to stay under pressure with mild corrections.