- Tight supply and slow scrap arrivals support market levels
- Weak finished steel demand keeps buyers cautious
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, remained steady d-o-d at INR 37,900/t DAP on 17 June 2026. Scrap prices have remained unchanged for the third consecutive day, reflecting tight supply in the region.
The Mandi steel market hub witnessed a paused and moderate price trend today, as demand from steel mills remained subdued over the past few days. Market participants said no major volume deals were reported during this period, while prices stayed largely rangebound with only minor corrections.
A continuing shortage of scrap, along with logistical challenges and slow scrap arrivals, has helped support current price levels in the northern region. Despite weak buying interest, the market has not seen any sharp decline, mainly because limited supply continues to offset soft demand.
A mill owner informed “That the overall sentiment remains cautious, with buyers unwilling to chase prices higher in the absence of strong finished steel demand. The market is likely to stay under pressure unless fresh buying interest or improved scrap inflows emerge.”
Alternative raw material prices
Sponge iron (CDRI) in Mandi Gobindgarh held steady d-o-d at INR 30,100/t DAP, while steel-grade pig iron in Ludhiana remained at INR 41,400/t DAP.
Steel market trends
Semi-finished steel prices reflected a softer trend across regions. Ingot prices in Mandi Gobindgarh remained stable at INR 42,850/t DAP, while other major production centres reported declines of INR 100-600/t. Rebar (Fe500) prices in Mandi eased by INR 100/t to INR 47,500/t ex-works, whereas HR strip (patra) prices were unchanged at INR 46,800/t ex-works.
Price highlights
End-cutting to billet spread: In Mandi, the spread between end-cutting scrap and billets stood in the range of INR 4,900-5,300/t.
Domestic vs imported scrap: Imported melting scrap prices at Nhava Sheva Port were assessed at $346/t, approximately INR 35,000/t (inclusive of freight). HMS (80:20) prices in Mumbai remained steady for the third consecutive day at INR 33,250/t DAP. Indicative prices of shredded from Europe stood at $390/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 14,800/t.
To see BigMint’s melting scrap assessment, pricing methodology and specification documents, click here
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