- Kolhapur low-manganese CR-busheling sees sharp correction
- Demand remains stable, buyers cautious about procurement
Ferrous scrap prices across India’s major foundry hubs remained under pressure w-o-w as of 30 June 2026, with plate scrap grades registering further declines across most regions, although the pace of correction moderated compared to the previous week. Among processed grades, Kolhapur’s low-manganese (low-Mn) CR-busheling witnessed a sharp correction, while prices in Coimbatore and Chennai remained stable, indicating region-specific demand dynamics.
Market participants said foundries continued to procure material strictly on a need-based basis, as weak finished casting demand and pressure on margins kept buying activity subdued. Adequate scrap availability and cautious purchasing weighed on plate scrap prices across key markets, while the steep decline in Kolhapur’s low-Mn CR-busheling reflected softer local demand and increased pricing pressure. Stable processed scrap prices in southern markets suggested relatively balanced supply-demand conditions despite the overall cautious market sentiment.
Demand remains stable; procurement stays cautious
Demand for castings remained broadly stable, supported by regular domestic and export orders. However, foundries continued to adopt a cautious buying strategy amid uncertainty over scrap price direction and continued pressure on operating margins.
Market participants noted that buyers were avoiding aggressive stocking and preferred short-term procurement, expecting limited near-term price movement.
Region-wise scenario
Kolhapur
Foundry plate scrap prices declined by INR 300/t w-o-w to INR 38,500/t.
CR-busheling low-Mn prices witnessed a sharp correction of INR 1,300/t to INR 42,500/t, amid subdued buying interest and adequate material availability.
Coimbatore
Foundry plate scrap prices declined by INR 800/t to INR 40,000/t.
CR-busheling low-Mn prices remained stable at INR 44,200/t, supported by balanced demand-supply fundamentals.
Chennai
Foundry plate scrap prices eased by INR 600/t w-o-w to INR 38,000/t.
CR-busheling low-Mn prices remained unchanged at INR 43,500/t, as buyers continued to procure material on a need-based basis.
Kolkata
Foundry plate scrap prices declined by INR 300/t to INR 39,000/t, reflecting cautious procurement despite steady local availability.
Outlook
Plate scrap prices are expected to remain under mild pressure in the near term as foundries continue to follow a requirement-based procurement strategy amid weak order inflows and margin pressure. Processed low-Mn CR-busheling prices are likely to remain largely stable across southern markets, while Kolhapur may continue to face downside pressure if buying activity does not improve. Overall, market participants expect prices to remain range-bound unless demand from the casting sector strengthens.
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