- GST checks curb arrivals; mills cut scrap offers
- Ingot prices slip by INR 100/t d-o-d in Mandi
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, decreased by INR 200/t d-o-d to INR 37,200/tonne (t) DAP on 15 July 2026. Mandi Gobindgarh witnessed subdued demand in today’s session as semi-finished steel prices eased by INR 100/t d-o-d, prompting scrap buyers to adopt a cautious stance; despite temporary supply constraints caused by GST inspections that slowed arrivals, the overall weak offtake for finished steel led local mills to reduce their scrap purchase offers, forcing many suppliers to cut scrap prices, while certain grades remained unchanged.
Alternative raw material prices
Sponge iron (CDRI) prices in Mandi Gobindgarh rose by INR 200/t d-o-d to INR 28,900/t DAP, while steel‑grade pig iron in Ludhiana held steady at INR 40,700/t DAP; the price gap in the scrap market and slow local arrivals have prompted some Mandi mill owners to source sponge iron directly from Durgapur and the Ramgarh region, where they are securing discounted supplies.
Steel market trends
In Mandi, steel ingot prices eased by INR 100/t to INR 41,800/t DAP during the price reporting and normalization phase. Other major markets recorded decreases of INR 100-250/t today.
Similarly, in the rebar (Fe500) segment, Mandi prices remained stable d-o-d at INR 46,700/t exw. HR strip (patra) prices also remained unchanged d-o-d at INR 45,700/t ex-works amid 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 4,300-4,700/t.
Domestic vs imported scrap: Imported melting scrap prices at Nhava Sheva Port were assessed at $333-$334/t, approximately INR 34,500/t (inclusive of freight). HMS (80:20) in Mumbai fell by INR 100/t d-o-d to INR 31,000/t DAP. Indicative prices of shredded from Europe stood at $388/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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