- Sponge iron prices fall by INR 200/t d-o-d
- Rebar prices drop INR 200/t d-o-d
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, fell by INR 100/tonne (t) d-o-d to INR 37,200/t DAP on 13 July 2026. Mandi Gobindgarh’s secondary steel market extended its decline on Monday amid soft sentiments and a paused trading environment, as mills cited lackluster finished steel demand fueling liquidity pressures and subdued scrap buying-leaving prices trending lower with buyers sidelined and no near-term recovery catalysts in sight.
Alternative raw material prices
Sponge iron (CDRI) prices in Mandi Gobindgarh decreased by INR 200/t d-o-d to INR 28,600/t DAP. Meanwhile, steel-grade pig iron prices in Ludhiana remained almost steady at INR 40,700/t DAP.
Steel market trends
Semi-finished steel (ingot) prices in Mandi Gobindgarh declined by INR 50/t d-o-d, settling at INR 41,800/t DAP. Other major production hubs also witnessed price drops in the range of INR 50-500/t in today’s trading session.
In Mandi Gobindgarh, rebar (Fe500) prices declined by INR 100/t to INR 46,600/t exw today, reflecting subdued trading volumes.
Overview of Alang market
Ship-breaking melting scrap prices in Alang, Gujarat, remained unchanged on 13 July, with HMS (80:20) assessed at INR 34,000/t ($355/t) ex-yard, as tight supply offset subdued demand from secondary steelmakers.
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 $330-$333/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 14,500/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