- Rebar prices dip INR 100/t d-o-d
- Pig iron prices remain flat d-o-d
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, dipped by INR 100/tonne (t) d-o-d to INR 34,200/t DAP on 6 October 2025. The Mandi steel market witnessed a cautious sentiment today, driven by sluggish demand in both semi-finished and finished steel.
Raw material
The price of sponge iron (CDRI) in Mandi fell by INR 200/t day-on-day to INR 29,800/t DAP. In Ludhiana, steel grade pig iron prices were unchanged at INR 35,000/t DAP.
Steel market trends
In Mandi Gobindgarh, semi-finished steel (ingot) prices slipped by INR 150/t d-o-d to INR 39,350/t DAP, reflecting reduced transactions and softening demand. In other major production hubs, ingot prices declined between INR 100 and INR 500/t compared to the previous trading session.
Rebar (Fe 500) prices in Mandi declined by INR 100/t, settling at INR 43,900/t ex-works.
Alang scrap market
Ship-breaking melting scrap prices in Gujarat’s Alang dropped by INR 200/t d-o-d on 6 Oct’25. According to BigMint’s assessment, HMS (80:20) prices are INR 30,300/t ($341/t) ex-yard. As per sources, although semi-finished steel prices firmed up in the region during the previous session, overall trade remained moderate. Persistent liquidity constraints continue to hamper buying interest, which prompted suppliers to lower their offers today.
Price highlights
End-cutting to billet spread: In Mandi, the spread between end-cutting scrap and billets stood in the range of INR 4,900-5,200/t.
Domestic vs imported scrap: Imported melting scrap prices at Nhava Sheva Port were assessed at $325-330/t, approximately INR 31,300/t (inclusive of freight). HMS (80:20) prices in Mumbai remained stable at INR 30,700/t DAP today. Indicative prices of shredded from Europe stood at $355-360/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 12,200/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