- Alternative raw material prices stay firm d-o-d
- Semi-finished steel prices decline by INR 200/t
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, remained steady d-o-d at INR 35,600/t DAP on 20 August 2025. Prices remained stable over the past two days in the Mandi Gobindgarh scrap market. While no major trade activity was recorded, need-based local buying continued steadily, maintaining a decent market sentiment. Most mills are currently dependent on domestic scrap, as imported material remains economically unviable at this time, supporting sustained demand for local material.
Alternative raw materials
The sponge iron market in Mandi Gobindgarh continued its stable run, with prices holding unchanged at INR 30,000/t DAP for the sixth consecutive day. Likewise, pig iron prices in Ludhiana remained firm at INR 35,800/t DAP, with no change from the previous session.
Steel market trend
The semi-finished steel market in Mandi Gobindgarh remained under pressure, with prices falling by INR 200/t d-o-d, now assessed at INR 40,400/t DAP. Across major steel-producing hubs, steel ingot prices dropped by INR 50-INR 300/t, reflecting weak trading sentiment. Notably, Muzaffarnagar and Ghaziabad witnessed a significant decline of INR 300/t d-o-d, signalling persistent softness in the market.
In the finished steel segment, Rebar (Fe500) prices in Mandi held steady at INR 45,500/t ex-works. Similarly, HR strip (patra) prices also remained stable at INR 42,700/t ex-works, reflecting an overall moderate market trend.
Overview of Alang scrap market
Gujarat’s Alang ship-breaking yard saw melting scrap prices rise by INR 300/t d-o-d on 20 August 2025, according to BigMint. The HMS (80:20) scrap was assessed at INR 32,000/t (ex-yard). Semi-finished and finished steel products also witnessed an uptick of INR 200-500/t, driven by stronger buyer interest. Active inquiries encouraged scrap suppliers to increase their offers, anticipating further demand.
Upcoming scrap auctions
Price highlights
End-cutting-billets spread: In Mandi, the end-cutting scrap and billet spread stood at INR 4,800-5,200/t.
Domestic vs imported scrap: Imported melting scrap prices at Nhava Sheva Port were at $335/t, which equates to approximately INR 31,465/t (including freight). HMS (80:20) prices in Mumbai remained steady at INR 31,500/t DAP today. Indicative prices of shredded from Europe stood at $365/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 13,500/t.
To check BigMint’s melting scrap assessment, pricing methodology, and specification documents, click here.
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