- GST inspections tighten domestic scrap availability
- Sponge iron prices inched up by INR 100/t d-o-d
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, increased by INR 200/t d-o-d to INR 37,400/tonne (t) DAP on 14 July 2026. India’s key secondary steel hub, Mandi Gobindgarh, witnessed an increase in prices across the raw-to- semi-finished steel segments, with prices rising by INR 100-300/t. Mild scrap shortage and ongoing GST checks were seen in the market today, prompting scrap suppliers to raise their offers.
Alternative raw material prices
Sponge iron (CDRI) prices in Mandi Gobindgarh increased by INR 100/t d-o-d to INR 28,700/t DAP. In contrast, steel-grade pig iron prices in Ludhiana remained stable d-o-d at INR 40,700/t DAP.
Steel market trends
In Mandi, steel ingot prices rose by INR 100/t to INR 41,900/t DAP during the price reporting and normalization phase. Other major markets recorded increases of INR 100-300/t today.
Similarly, in the rebar (Fe500) segment, Mandi prices rose by INR 100/t d-o-d to INR 46,700/t exw, supported by moderate demand.
Price highlights
End-cutting to billet spread: In Mandi, the spread between end-cutting scrap and billets stood in the range of INR 4,400-4,800/t.
Domestic vs imported scrap: Imported melting scrap prices at Nhava Sheva Port were assessed at $331-$334/t, approximately INR 33,900/t (inclusive of freight). HMS (80:20) in Mumbai remained stable d-o-d at INR 31,100/t DAP. Indicative prices of shredded from Europe stood at $380/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 14,300/t.
To see BigMint’s melting scrap assessment, pricing methodology and specification documents, click here
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