- Sponge iron prices remain steady d-o-d
- Semi-finished steel prices dip INR 50/t
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, slightly decreased by INR 100/t d-o-d to INR 35,600/t DAP on 14 August 2025.The overall scrap market remained sluggish today, with a slight price correction observed in semi-finished steel. Minor declines were noted across the market, reflecting subdued trading activity. Scrap prices in Mandi declined by INR 170-300/t on a weekly basis.
Imported scrap offers
Raw materials
Sponge Iron prices in Mandi remained stable d-o-d at INR 30,000/t DAP, while on a weekly basis, prices decreased by INR 140/t.
Pig iron prices in Ludhiana declined by INR 100/t to INR 35700/t DAP, while prices remained stable on a weekly basis.
Steel market trend
The semi-finished steel market in Mandi Gobindgarh recorded a day-on-day decline of INR 50/t, with current prices assessed at INR 40,500/t DAP. Across major steel hubs, the market showed price corrections of INR 50-400/t. Ingot prices in the region slipped by INR 150/t on a weekly basis.
Rebar (Fe500) prices in Mandi remained unchanged d-o-d at INR 45,400/t ex-works. The finished steel segment in Mandi saw limited buying activity today, reflecting cautious sentiment in the market. A weekly decline of INR 325/t was recorded in rebar prices across the region.
Overview of Alang market
The Alang ship-breaking scrap market remained stable day-on-day on 14 Aug 2025, with HMS (80:20) prices assessed at INR 31,600/t ex-yard, according to BigMint. Trade activity in semi-finished and finished steel was average, and moderate procurement interest from IF mills in Bhavnagar supported price stability across the region.
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 $333/t-$334/t, which equates to approximately INR 31,400/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 $364/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 13,350/t.
To check BigMint’s melting scrap assessment, pricing methodology, and specification documents, click here.
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