India: Mill scale prices witness mixed movement across major markets

• Jalna mills reduce offers aggressively
• Cautious market mood limits upside in Kandla

Mill scale prices across Kandla reflected largely firm trends and Raipur and Jalna dipped as of 27 May 2026. According to BigMint’s latest assessment, Fe 69% mill scale prices in Kandla remained stable at INR 9,000/t ($94/t) DAP compared to 23 May while in Raipur prices inched down by INR 100/t ($1/t) to INR 7,100/t ($74/t) exw as compared to 23 May. Meanwhile, Jalna prices fell by INR 350/t ($4/t) to INR 6,700/t ($70/t) ex-works against 20 May’26.

In Kandla, the market largely remained rangebound as participants adopted a cautious stance amid expectations of further price correction. Weakness in global iron ore prices continued to weigh on overall market sentiment, though trade activity remained healthy during the assessment period. Working price levels were largely heard in the range of INR 8,800-9,300/t ($92-97/t) DAP, with nearly 5,000 t of deals recorded within this range.

Meanwhile, Raipur market sentiment remained subdued due to weak demand and limited buying interest from outside markets. Traders largely remained inactive as procurement activity slowed amid cautious sentiment across the steel value chain. Buyers continued to delay purchases in anticipation of further correction in prices, which kept overall market activity restrained. Approximately 1,700 t of deals were concluded in the range of INR 7,000-7,300/t ($73-76/t) ex-works during the assessment period.

In Jalna, the market presented a mixed trend. While some fresh bulk orders supported trading activity, mills were also heard lowering their offers aggressively amid sluggish demand conditions. Transportation-related challenges eased slightly compared to previous weeks, supporting smoother material movement. However, market sentiment largely remained negative due to ongoing price correction expectations, with participants continuing to maintain a wait-and-watch approach. Around 6,000 t of deals were recorded in the range of INR 6,500-7,150/t ($67-74/t) during the assessment window.