- Semi-finished steel prices increase by INR 200/t today
- Slight scrap shortage may support prices in near term
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, increased by INR 200/t d-o-d to INR 38,300/tonne (t) DAP on 14 May 2026.
In the major secondary steel cluster of Mandi Gobindgarh, steel prices saw a slight uptick today, supported by moderate buying activity. Consequently, scrap buying also remained healthy during the trading session.
A mill owner informed BigMint, “Despite below-average demand for finished steel, the scrap market is likely to remain firm in the near term due to a slight shortage.”
Alternative raw material prices
In the raw material segment, sponge iron (CDRI) prices in Mandi Gobindgarh remained stable d-o-d at INR 31,500/t DAP. While, steel-grade pig iron prices in Ludhiana inched up by INR 50/t to INR 41,700/t DAP.
Steel market trend
The semi-finished steel market in Mandi Gobindgarh recorded a d-o-d increase of INR 200/t, with current prices assessed at INR 43,700/t DAP during the reporting and normalisation period. Across major steel hubs, prices increased by INR 50-250/t, reflecting a positive market trend.
Similarly, in the rebar (Fe500) segment, Mandi prices increased by INR 100/t d-o-d to INR 48,600/t exw, supported by moderate demand.
Overview of Alang market
Ship-breaking melting scrap prices in Gujarat’s Alang market fell by INR 1,300/t d-o-d on 14 May. HMS (80:20) prices were assessed at INR 34,700/t ($363/t) exy. Semi-finished steel prices fell by nearly INR 2,000/t w-o-w, while Alang scrap prices had largely remained range-bound, creating a bid-offer disparity between buyers and sellers. This mismatch in market expectations prompted suppliers to reduce their offers sharply today.
Price highlights
End-cutting to billet spread: In Mandi, the spread between end-cutting scrap and billets stood in the range of INR 5,300-5,700/t.
Domestic vs imported scrap: Imported melting scrap prices at Nhava Sheva Port were assessed at $377-380/t, approximately INR 38,400/t (inclusive of freight). Today, HMS (80:20) prices in Mumbai remained stable d-o-d at INR 34,400/t DAP. Indicative prices of shredded from Europe stood at $397/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 14,550/t.
To see BigMint’s melting scrap assessment, pricing methodology and specification documents, click here
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