- Sponge iron prices increase by INR 100/t today
- Semi-finished steel prices remains stable d-o-d
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, eased by INR 100/tonne (t) d-o-d to INR 39,100/t DAP on 20 August 2026. Today’s Mandi steel market witnessed mixed trading activity. The first half of the session remained subdued; however, spot demand for both semi-finished and finished steel products improved during the latter half. Scrap prices recorded only minor fluctuations, supported by tight availability, while ongoing concerns over GST-related checks continued to influence market sentiment.
A mill owner informed BigMint:”In the near term, the market is expected to remain stable to firm, supported by healthy demand and tighter raw-material availability. Steelmakers are anticipating a modest upward movement in prices during the current week, with additional support likely from firm price trends in neighbouring regions across the semi-finished and finished steel segments.”
Alternative raw material prices
Sponge iron (CDRI) prices in Mandi Gobindgarh increased by INR 100/t d-o-d to INR 30,900/t DAP. In contrast, steel-grade pig iron prices in Ludhiana remained stable at INR 42,500/t DAP.
Steel market
Semi-finished steel (ingot) prices in Mandi Gobindgarh remained stable day-on-day at INR 43,200/t DAP. However, ingot prices across major production hubs declined by INR 50-300/t during today’s trading session.
Rebar (Fe 500) prices in Mandi Gobindgarh increased by INR 100/t d-o-d to INR 48,000/t ex-works. HR strip (patra) prices declined by INR 100/t d-o-d to INR 48,100/t ex-works amid moderate regional demand.
Overview of Alang market
Ship-breaking melting scrap (HMS 80:20) prices in Alang, Gujarat, remained stable day-on-day at INR 34,500/t ex-yard on 20 August. Market sentiment continued to remain firm, supported by low inventories and limited availability of readily deliverable material. Improved demand for finished steel has encouraged mills to replenish their raw-material inventories, providing support to scrap procurement despite elevated replacement costs. However, buying activity remains largely requirement-driven, with mills maintaining a cautious approach toward fresh purchases.
Price highlights
End-cutting to billet spread: In Mandi, the spread between end-cutting scrap and billets stood in the range of INR 3,800-4,200/t.
Domestic vs imported scrap: Imported melting scrap prices at Nhava Sheva Port were assessed at $337-$338/t, approximately INR 34,670/t (inclusive of freight). Today, HMS (80:20) prices in Mumbai remained stable d-o-d at INR 33,750/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 12,500/t.
To see BigMint’s melting scrap assessment, pricing methodology and specification documents, click here
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