India: Foundry scrap prices rise sharply w-o-w amid tight raw material supply

• Tight supply lifts offers; buyers make need-based purchases
• Chennai, Coimbatore lead w-o-w price gains in foundry plate

India’s foundry plate scrap prices increased by INR 1,500-3,500/t w-o-w across key markets on 1 September 2026, while low-Mn CR-busheling prices rose by INR 500-1,000/t. Tight scrap supply supported firm seller offers, while foundries and scrap buyers remained active, though they largely made requirement-based purchases. The increase was particularly pronounced in southern India, where foundry plate prices in Chennai and Coimbatore rose by INR 3,500/t each.

Regional price commentary

Kolhapur (west India)

Kolhapur market sentiment remained firm w-o-w, with both assessed grades recording an increase. Foundry plate (4-8 mm) prices increased by INR 1,500/t to INR 40,500/t from INR 39,000/t previously. Low-Mn CR-busheling prices rose by INR 500/t to INR 44,000/t from INR 43,500/t.

Sources from Kolhapur mills said that they were caught by surprise as scrap prices surged sharply within a short period, leaving buyers struggling to adjust to the sudden increase. However, despite the higher prices, a few mills started booking material to meet their immediate requirements and avoid further price increases.

Kolkata (east India)

Kolkata recorded a significant increase, with foundry plate (4-8 mm) prices rising by INR 1,700/t w-o-w to INR 41,500/t, from INR 39,800/t previously.

The market remained firm as buyers continued to procure material based on immediate requirements. The sharp increase brought Kolkata foundry plate prices above INR 41,000/t, making it one of the highest assessed levels among the tracked markets.

Chennai & Coimbatore (south India)

Southern markets recorded the strongest w-o-w price gains, particularly for foundry plate.

In Coimbatore, foundry plate (8-50 mm) prices increased by INR 3,500/t w-o-w to INR 41,300/t, from INR 37,800/t previously. Low-Mn CR-busheling prices also rose by INR 1,000/t w-o-w to INR 45,300/t, from INR 44,300/t.

In Chennai, foundry plate (8-50 mm) prices increased by INR 3,500/t w-o-w to INR 39,500/t, from INR 36,000/t previously. Low-Mn CR-busheling prices rose by INR 1,000/t to INR 43,500/t, from INR 42,500/t.

The sharp increase in foundry plate prices was driven by a shortage of raw materials, while secondary steel prices rose by around INR 1,000-1,500/t within a week. The rise in secondary steel prices, coupled with tighter scrap availability, pushed foundry scrap prices higher across the market.

Outlook

India’s foundry scrap market is expected to remain firm in the coming week, with all markets likely seeing w-o-w price increases. Prices could rise by another INR 500-1,000/t in the coming week, supported by tight raw material availability and higher secondary steel prices.