- Scrap arrivals subdued amid logistical hurdles, GST checks
- Semis, finished steel prices remain firm d-o-d
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, increased by INR 100/tonne (t) d-o-d to INR 38,600/t DAP on 4 Aug 2026.
Mandi Gobindgarh’s secondary steel market saw a modest rise of INR 100/t in steel scrap prices today, supported by continued tight availability in the main market. Scrap arrivals from neighbouring regions remained subdued, while ongoing GST checks and local logistical constraints further restricted inflows, keeping supply pressure intact.
Prices of semi-finished and finished steel products remained largely unchanged across the region, with trade activity staying moderate. On the alternative raw material front, sponge iron prices also edged up by INR 100/t, reflecting improved consumption demand from local steelmakers in Mandi Gobindgarh.
Alternative raw material prices
Sponge iron (CDRI) prices in Mandi Gobindgarh rose by INR 100/t d-o-d to INR 29,800/t DAP, indicating slightly firmer sentiment in the local raw material market. In parallel, steel-grade pig iron prices in Ludhiana gained INR 200/t d-o-d to INR 42,200/t DAP, aided by improved trade interest and relatively tighter availability.
Steel market
Mandi Gobindgarh’s semi-finished steel market remained largely steady today, with ingot prices holding unchanged d-o-d at INR 42,600/t DAP. However, other major production centres reported an increase of around INR 200/t, indicating a firmer tone outside the local market.
In the finished-steel segment, rebar (Fe500) prices in Mandi Gobindgarh were stable at INR 47,200/t ex-works, while HR strip (patra) prices edged up by INR 100/t d-o-d to INR 47,700/t ex-works. Market participants noted that demand in the patra and structural steel segments remained moderate, while the rebar segment continued to face limited buying support.
Upcoming scrap auctions
Price highlights
End-cutting to billet spread: In Mandi, the spread between end-cutting scrap and billets stood in the range of INR 3,800-4,300/t.
Domestic vs imported scrap: Imported melting scrap prices at Nhava Sheva Port were assessed at $330/t-$332/t, approximately INR 33,823/t (inclusive of freight). HMS (80:20) prices in Mumbai remained stable d-o-d at INR 32,600/t DAP. Indicative prices of shredded from Europe stood at $395/t-$396 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 13,300/t
To see BigMint’s melting scrap assessment, pricing methodology and specification documents, click here
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