- Tight scrap supply supports price uptrend
- Scrap, finished steel prices extend gains
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, strengthened by INR 200/t d-o-d to INR 38,100/tonne (t) DAP on 27 July 2026. Scrap prices rose by INR 200-300/t in today’s trading session amid positive sentiment in the steel market.
Mandi Gobindgarh’s secondary steel market registered a noticeable uptick in trading activity today, driven by broad-based demand across all steel segments. Market participants reported firming prices, with scrap to finished-steel prices rising by INR 200-400/t. The upward movement also reflected tighter availability of scrap and improved offtake in the region.
A mill owner informed BigMint, “Today’s HR strip (patra) market recorded strong demand, lifting prices by INR 900/t d-o-d to INR 47,700/t ex‑works. Buying interest picked up from the previous session and remained firm through both halves of trading, keeping market sentiment positive. Limited scrap arrivals and ongoing strict GST checks also constrained scrap supply and lifted prices.”
Alternative raw material prices
Sponge iron (CDRI) prices in Mandi Gobindgarh increased by INR 300/t d-o-d to INR 29,700/t DAP, indicating a firming trend in the local market. In contrast, steel-grade pig iron prices in Ludhiana inched up by INR 200/t d-o-d to INR 40,400/t DAP, suggesting steady demand in the region.
Steel market
Semi-finished steel (ingot) prices in Mandi Gobindgarh rose by INR 200/t d-o-d to INR 42,500/t DAP. Other major production hubs also saw an increase of INR 200-650/t in today’s trading session. In the finished-steel segment, rebar (Fe500) prices in Mandi Gobindgarh jumped by INR 400/t to INR 47,300/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 4,300-4,700/t.
Domestic vs imported scrap: Imported melting scrap prices at Nhava Sheva Port were assessed at $334/t, approximately INR 34,350/t (inclusive of freight). HMS (80:20) in Mumbai increased by INR 400/t d-o-d to INR 32,300/t DAP. Indicative prices of shredded from Europe stood at $396/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 13,550/t.
To see BigMint’s melting scrap assessment, pricing methodology and specification documents, click here
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