- Scrap prices stable amid tight supply and slower arrivals
- Steel prices softened, while raw material costs stayed firm
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, remained stable d-o-d at INR 37,900/t DAP on 30 July 2026. In today’s Mandi, the secondary steel market witnessed a softer trend, with semi-finished and finished steel prices easing by around INR 100-200/t. However, due to a mild scrap shortage, logistics issues, and slower scrap arrivals, local scrap suppliers held their prices firm in today’s market.
Raw materials
Sponge iron (CDRI) prices in Mandi gained INR 100/t d-o-d to INR 29,600/t DAP. Steel-grade pig iron prices in Ludhiana remained stable at INR 42,000/t DAP.
Steel market trends
Ingot prices in Mandi Gobindgarh softened by INR 200/t d-o-d to INR 42,100/t DAP, while other major production centres reported declines of INR 100-500/t. Rebar (Fe500) prices in Mandi Gobindgarh dipped by INR 200/t to INR 46,800/t ex-works, while HR strip (patra) prices weakened by INR 100/t d-o-d to INR 47,100/t ex-works.
Price highlights
End-cutting to billet spread: In Mandi, the spread between end-cutting scrap and billets stood in the range of INR 4,200-4,500/t.
Domestic vs imported scrap: Imported melting scrap prices at Nhava Sheva Port were assessed at $332/t, approximately INR 34,170/t (inclusive of freight). HMS (80:20) prices in Mumbai remained stable day-on-day at INR 32,600/t DAP. Indicative prices of shredded from Europe stood at $395/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 13,200/t.
To see BigMint’s melting scrap assessment, pricing methodology and specification documents, click here
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