- Scrap arrivals from adjacent regions remain adequate
- Semis, finished steel prices hold steady today
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, remained stable d-o-d at INR 41,600/t DAP on 09 Sept 2026. Scrap prices remained rangebound today, supported by need-based buying in the market.
Mandi’s secondary steel market closed steady today as thin trade and cautious buying kept prices range-bound, with scrap arrivals from neighbouring regions remaining adequate while finished-steel demand stayed moderate to slow, leaving melting units comfortable on inventory but reluctant to push quotes higher and buyers unwilling to chase in the absence of fresh enquiry-to-order conversion. Input-cost support from scrap and sponge iron prevented any downside, yet the lack of restocking or speculative interest capped upside, so raw-to-finished values held largely unchanged across scrap to finished steel during the session.
Raw material prices
Sponge iron (CDRI) prices in Mandi Gobindgarh remained steady day-over-day at INR 33,400/t DAP, while steel-grade pig iron prices in Ludhiana decreased by INR 100/t day-over-day to INR 42,400/t DAP.
Sponge iron prices indicate a stable trend in alternative raw material markets, with buyers and sellers largely maintaining current price levels amid muted market movement.
Steel market
Mandi Gobindgarh’s semi-finished steel market remained largely stable today, with ingot prices unchanged d-o-d at INR 46,500/t DAP. In contrast, other major production centres reported increases of around INR 250-450/t d-o-d.
In the finished-steel segment, rebar (Fe500) prices in Mandi Gobindgarh remained steady d-o-d at INR 51,600/t ex-works, while HR strip (patra) prices also remained unchanged at INR 51,000/t ex-works.
Price highlights
End-cutting to billet spread: In Mandi, the spread between end-cutting scrap and billets stood in the range of INR 4,600-4,900/t.
Domestic vs imported scrap: Imported melting scrap prices at Nhava Sheva Port were assessed at $368/t, approximately INR 37,300/t (inclusive of freight). HMS (80:20) in Mumbai inched up by INR 100/t d-o-d to INR 35,350/t DAP. Indicative prices of shredded from Europe stood at $415/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
To provide feedback on this index or if you would like to contribute by becoming a data partner, please contact – support@bigmint.co
Leave a Reply