- Sponge iron prices decrease by INR 100/t
- Finished steel prices remains stable d-o-d
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, inched down by INR 100/tonne (t) d-o-d to INR 38,100/t DAP on 25 June 2026.Scrap prices in the region declined by INR 100/t today as finished-steel demand remained moderate. Improved scrap supply in Mandi prompted suppliers to lower offers.
Alternative raw-materials
Sponge iron (CDRI) in Mandi Gobindgarh slipped by INR 100/t day-on-seen (d-o-s) to INR 29,700/t DAP. Steel-grade pig iron in Ludhiana was steady d-o-d at INR 41,600/t DAP.
Steel market
Semi-finished steel (ingot) prices in Mandi Gobindgarh eased by INR 100/t d-o-d to INR 42,850/t DAP. Ingot prices across major production hubs also declined by INR 100/t during today’s trading session.
Rebar (Fe500) in Mandi remained unchanged d-o-d at INR 47,500/t ex-works.HR strip(patra) prices were unchanged d-o-d at INR 46,400/t ex-works amid moderate demand.
Upcoming scrap auctions
Price highlights
End-cutting to billet spread: In Mandi, the spread between end-cutting scrap and billets stood in the range of INR 4,600-5,000/t.
Domestic vs imported scrap: Imported melting scrap prices at Nhava Sheva Port were assessed at $340/t, approximately INR 34,400/t (inclusive of freight). HMS (80:20) in Mumbai moved down by 300/t d-o-d to INR 32,700/t DAP. Indicative prices of shredded from Europe stood at $385/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 14,650/t.
To see BigMint’s melting scrap assessment, pricing methodology and specification documents, click here
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