- Sponge iron prices decrease by INR 100/t today
- Semis, finished steel prices remains stable d-o-d
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, remained stable d-o-d at INR 40,700/tonne (t) DAP on 26 August 2026.
Mandi Gobindgarh, a key hub for North India’s secondary steel and scrap market, recorded a broadly stable session today. The overall market tone was moderate, with no major directional moves in either scrap or finished steel prices on a day-over-day basis.
Trading in the ferrous scrap segment remained range-bound, with HMS (80:20), LMS and other prime grades holding steady as buyers and sellers operated within established price bands. Semi-finished products, including billets and ingots, also saw limited movement, reflecting a wait-and-watch approach among mill operators and traders. Finished steel prices, particularly for long products, were largely unchanged, indicating a lack of fresh triggers from either raw-material costs or downstream demand.
Alternative raw material prices
Sponge iron (CDRI) prices in Mandi Gobindgarh eased by INR 100/t d-o-d to INR 31,700/t DAP, amid moderate buying activity. Meanwhile, steel-grade pig iron prices in Ludhiana remained stable at INR 42,500/t DAP.
Steel market
In Mandi Gobindgarh, ingot prices held steady day-on-day at INR 44,700/t DAP, while other key hubs declined by INR 100-500/t, reflecting sluggish buying trend today.In the long-products segment, Mandi’s rebar (Fe500) prices remained stable d-o-d at INR 49,600/t ex-works, supported by decent end-user inquiry.
Price highlights
End-cutting to billet spread: In Mandi, the spread between end-cutting scrap and billets stood in the range of INR 3,800-4,200/t.
Domestic vs imported scrap: Imported melting scrap prices at Nhava Sheva Port were assessed at $348-$350/t, approximately INR 35,580/t (inclusive of freight). Today, HMS (80:20) prices in Mumbai edged down by INR 50/t d-o-d to INR 34,450/t DAP. Indicative prices of shredded from Europe stood at $404/t-$405/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 12,100/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