- Sponge iron prices decrease by INR 100/t d-o-d
- Semis, finished steel prices decline by INR 50-200/t
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, remained stable d-o-d at INR 38,100/tonne (t) DAP on 28 July 2026. Scrap offers remained firm today, with only minor changes.
Overall scrap prices remained stable d-o-d, with no significant price movement. The stability was mainly supported by mild supply tightness and routine scrap procurement from local mills, while demand for semi-finished and finished steel stayed subdued compared with the previous trading session. Local steelmakers are expecting some near-term price correction; however, sluggish scrap arrivals and logistics-related constraints are likely to keep prices range-bound, with only minor fluctuations likely in the near term.
Alternative raw material prices
Sponge iron (CDRI) in Mandi Gobindgarh eased by INR 100/t d-o-d to INR 29,600/t DAP, while steel‑grade pig iron prices in Ludhiana remained unchanged at INR 41,500/t DAP.
Steel market trends
Semi-finished steel prices reflected a softer trend across regions. Ingot prices in Mandi Gobindgarh eased by INR 50/t d-o-d to INR 42,450/t DAP, while other major production centres reported declines of INR 50-400/t. Rebar (Fe500) prices in Mandi Gobindgarh fell by INR 200/t to INR 47,100/t ex-works, while HR strip (patra) prices dipped by INR 200/t d-o-d to INR 47,500/t ex-works.
Overview of Alang market
Ship-breaking melting scrap prices in Alang, Gujarat, moved higher on 28 July, with HMS (80:20) assessed at INR 33,800/t ($353/t) ex-yard. The rise was driven by firmer domestic steel prices across key markets, which improved sentiment and prompted recyclers to keep offers elevated. However, buying activity remained largely need-based, suggesting that the price uptick was supported more by expectations of further strength than by broad-based restocking demand.
Price highlights
End-cutting to billet spread: In Mandi, the spread between end-cutting scrap and billets stood in the range of INR 4,200-4,600/t.
Domestic vs imported scrap: Imported melting scrap prices at Nhava Sheva Port were assessed at $330-$332/t, approximately INR 34,000/t (inclusive of freight). HMS (80:20) in Mumbai increased by INR 300/t d-o-d to INR 32,600/t DAP. Indicative prices of shredded from Europe stood at $396/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 13,450/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