- Sponge iron prices increase by INR 300/t d-o-d
- Semis, finished steel prices climb by INR 500/t today
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, increased by INR 700/tonne (t) d-o-d to INR 38,800/t DAP on 19 January 2026. In today’s Mandi Gobindgarh steel market, semi-finished and finished steel prices rose by INR 500/t d-o-d, a trend expected to lift scrap prices as well. Demand had picked up slightly since last Saturday, but buyers turned cautious amid the price uptick. The market stayed quiet in the second half of today’s trading session.
A mill owner informed that “during today’s session scrap buying remained limited to essential needs. The price uptick in semis and finished steel has made buyers cautious, anticipating a near-term correction amid subdued trading activity at higher levels.”
Alternative raw material prices
Sponge iron (CDRI) prices in Mandi increased by INR 300/t d-o-d to INR 30,500/t (DAP). Steel-grade pig iron prices in Ludhiana remained stable d-o-d at INR 40,300/t (DAP) amid limited buyers in today’s market.
Steel market
Semi-finished steel prices (ingot) in Mandi Gobindgarh rose by INR 500/t d-o-d to INR 44,300/t (DAP), while ingot prices across major production hubs strengthened by INR 200-900/t over the same period. Ingot prices in Rourkela jumped by INR 900/t today, marking the largest single-day increase observed across India.
Rebar (Fe500) prices in Mandi Gobindgarh climbed by INR 500/t d-o-d, reaching INR 49,000/t ex-works. HR strip (patra) prices moved up d-o-d by INR 300/t to INR 44,800/t ex-works.
Overview of Alang market
On 19 January, 2026, Alang’s ship-breaking melting scrap prices remained unchanged from the previous day. BigMint assessed HMS (80:20) at INR 33,500/t ($369/t) ex-yard. Even with gains in regional semi-finished and finished steel prices last session, limited demand from Bhavnagar-based IF mills kept supplier offers firm and steady.
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 5,200-5,700/t
Domestic vs imported scrap: Imported melting scrap prices at Nhava Sheva Port were assessed at $328/t, approximately INR 32,109/t (inclusive of freight). HMS(80:20) scrap prices in Mumbai moved up by INR 100/t to INR 32,400/t DAP. Indicative prices of shredded from Europe stood at $355/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 15,750/t.
To check BigMint’s melting scrap assessment, pricing methodology, and specification documents, click here.
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