India: Mill scale prices remain firm across key regions amid cautious buying

• Need-based procurement dominates Raipur market
• Fresh export deals remain absent in Kandla

Mill scale prices remained largely stable across major domestic markets during the assessment period ending 8 July 2026, supported by firm seller offers despite subdued buying interest and weak downstream demand. According to BigMint’s latest assessment, Fe 69% mill scale prices in Kandla remained unchanged at INR 8,050/t ($85/t) DAP compared with 4 July, while Raipur prices held steady at INR 7,050/t ($75/t) ex-works and Jalna at INR 6,500/t ($68/t) ex-works against 1 July.

Kandla: High inventories keep export market under pressure

Mill scale prices in Kandla continued to trade within a narrow range as exporters focused on completing earlier dispatches while fresh export-linked deals remained under negotiation. Although trading activity persisted, abundant inventories of around 180,000-190,000 t continued to weigh on market sentiment. Market participants indicated that upcoming deals are likely to be concluded at INR 100-200/t lower than previous levels, reflecting cautious export demand. During the week, around 2,300 t of mill scale transactions were concluded at INR 7,950-8,050/t DAP.

Raipur: Firm seller offers offset subdued buying interest

Mill scale prices in Raipur remained stable as sellers maintained firm offers despite limited buying activity. Consumers largely restricted purchases to immediate requirements instead of building inventories due to moisture-related concerns during the monsoon season. Demand from outstation buyers also remained weak, resulting in muted trade volumes. However, the absence of aggressive discounting by suppliers helped prices remain unchanged. Around 900 t of transactions were concluded at INR 6,850-7,300/t ex-works during the week.

Jalna: Stable prices despite softer downstream fundamentals

Mill scale prices in Jalna remained steady, supported by transactions at prevailing price levels. While fresh inquiries continued, market participants noted that overall demand remained subdued amid weak downstream steel fundamentals and monsoon-related disruptions. Buyers remained cautious, limiting any upward price movement, although sellers largely held their offers unchanged. Around 3,000 t of mill scale deals were concluded at approximately INR 6,400/t ex-works during the assessment period.