- Raw material prices improve
- Semis, finished steel prices rise
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, surged by INR 200/t to INR 33,300/t DAP on 30 October 2025.Scrap prices edged higher in today’s market amid tight supply conditions, while ongoing GST inspections continued to disrupt workflow in Mandi. Limited scrap availability prompted suppliers to raise their offers.
Raw material
In the raw material segment, sponge iron (CDRI) prices in Mandi Gobindgarh increased by INR 100/t to INR 28,600/t DAP, while steel-grade pig iron prices in Ludhiana climbed by INR 400/t to INR 34,700/t DAP.
Steel market
Semi-finished steel (ingot) prices in Mandi Gobindgarh rose by INR 200/t to INR 38,400/t DAP, with other key production hubs also witnessing price gains of INR 100-400/t during today’s trading. In today’s session, ingot prices in Mumbai recorded a sharp rise of INR 400/t.
Rebar (Fe500) prices in Mandi increased by INR 300/t to INR 42,900/t ex-works, even as input cost pressures persisted.
HR strip (patra) prices in Mandi remained unchanged d-o-d at INR 39,500/t on an ex-works basis.
Overview of Alang market
On 30 October, Alang’s ship-breaking melting scrap prices gained INR 300/t d-o-d. HMS (80:20) was pegged at INR 30,200/t ex-yard. Stronger demand in the semi-finished and finished steel segments, where prices had climbed by INR 200-400/t a day earlier, encouraged suppliers to lift scrap offers.
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 4,900-5,200/t.
Domestic vs imported scrap: Imported melting scrap prices at Nhava Sheva Port were assessed at $322/t, approximately INR 30,761/t (inclusive of freight). HMS (80:20) in Mumbai increased by INR 200/t to INR 30,000/t DAP today. Indicative prices of shredded from Europe stood at $352/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 12,150/t.
To check BigMint’s melting scrap assessment, pricing methodology, and specification documents, click here.
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