- Sponge iron prices remain stable d-o-d
- Semis, finished prices rise by INR 100/t
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, inched up by INR 100/tonne (t) d-o-d to INR 35,000/t DAP on 17 December 2025.
Today’s market trend in Mandi Gobindgarh reflected a mild upward momentum in steel prices, though trading activity remained limited. The rise in finished steel prices was largely driven by slow arrival of scrap and higher conversion margins rather than genuine demand recovery. Mill owners adjusted prices accordingly, but actual buying from end-users or traders was minimal, indicating a sentiment-led improvement rather than a demand-backed rally.
Alternative raw material prices
Among alternative steelmaking raw materials, prices of sponge iron (CDRI) in Mandi Gobindgarh remained stable d-o-d, assessed at INR 28,300/t DAP. The market saw no significant fluctuations in buyer interest or supply.
On the other hand, steel-grade pig iron prices in Ludhiana increased by INR 200/t to INR 35,000/t DAP.
Steel market
Semi-finished steel (ingot) prices in Mandi Gobindgarh witnessed a modest uptick of INR 100/t d-o-d to INR 40,000/t DAP. Similarly, ingot prices across major production hubs registered a gain of INR 100-300/t during today’s trading session.
Meanwhile, rebar (Fe500) prices in Mandi increased by INR 100/t d-o-d to INR 44,500/t ex-works on rising input costs, though demand was subdued.
Although overall demand remained moderate, the recent increase in raw material prices has prompted Mandi-based mills to consider upward revisions in finished steel prices in an effort to maintain margins.
Overview of Alang market
On 17 December, Gujarat’s Alang ship-breaking melting scrap (HMS 80:20) gained INR 400/t d-o-d to INR 31,000/t exy according to BigMint, as semi-finished and finished steel prices increased INR 300-500/t locally during the prior session, driven by stronger scrap inquiries post three-day closure that prompted supplier hikes.
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 4,700-5,100/t.
Domestic vs imported scrap: Imported melting scrap prices at Nhava Sheva Port were assessed at $318/t, approximately INR 30,946/t (inclusive of freight). HMS (80:20) in Mumbai remained stable d-o-d at INR 30,500/t DAP. Indicative prices of shredded from Europe stood at $348/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 14,000/t.
To check 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