- Scrap availability remains adequate despite sluggish arrivals
- Most Mandi mills coal based, no immediate impact of gas shortages
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, dipped by INR 300/tonne (t) d-o-d to INR 37,700/t DAP on 11 March 2026. Scrap prices in the region declined by INR 300-400/t d-o-d.
Scrap arrivals in Mandi Gobindgarh remained slow, but there were no signs of shortages, prompting sellers to reduce offers amid limited buying activity. Consequently, semi-finished and finished steel prices declined by INR 100-300/t in today’s trading session. Slow working conditions have persisted over the last two days, with overall activity remaining moderate to below-moderate.
A mill owner informed BigMint, “While some Mandi Gobindgarh steel mills primarily use LNG gas for operations, with pipeline supply available, most Mandi mills are coal-based, and integrated plants do not require gas as they run on electricity. Further escalation in gas shortages could trigger production cuts by rolling units in the future, but there is no major impact to date.”
Alternative raw material prices
Sponge iron (CDRI) prices in Mandi Gobindgarh decreased by INR 300/t d-o-d to INR 32,500/t DAP. In contrast, steel-grade pig iron prices in Ludhiana fell by INR 100/t to INR 40,200/t DAP.
Steel market trends
In Mandi Gobindgarh, semi‑finished steel (ingot) prices slipped by INR 300/t d-o-d to INR 44,200/t DAP, reflecting reduced transactions and softening demand. In other major production centres, ingot prices similarly declined by INR 250-600/t d-o-d.
Rebar (Fe500) prices in Mandi Gobindgarh declined by INR 100/t to INR 49,500/t exw, with minimal trade activity today.
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 6,300-6,600/t.
Domestic vs imported scrap: Imported melting scrap prices at Nhava Sheva Port were assessed at $360-$362/t, approximately INR 35,522/t (inclusive of freight). HMS (80:20) prices in Mumbai decreased by INR 100/t d-o-d to INR 33,900/t DAP. Indicative prices of shredded from Europe stood at $382/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 14,800/t.
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To check BigMint’s melting scrap assessment, pricing methodology, and specification documents, click here.
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