- Sponge iron prices fall by INR 300/t d-o-d
- Finished steel prices decrease by INR 100/t
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, remained stable d-o-d at INR 37,500/tonne (t) DAP on 21 July 2026.Scrap offers remained firm in today’s market with only minor changes.
Today, the Mandi Gobindgarh secondary steel market softened as cautious buying filtered across the entire scrap-to-finished-steel chain. Finished-steel prices saw minor corrections, prompted in part by declines in select scrap grades. Traders and local steelmakers reported subdued enquiry levels and selective purchasing, keeping volumes below recent norms.
A local mill owner informed BigMint: “Around 2,500 t of light melting scrap in Mandi was booked in the range of INR 31,800-32,300/t, while 1,900 t HMS (80:20) scrap traded at INR 34,300-34,500/t DAP Mandi.”
Alternative raw material prices
Sponge iron (CDRI) prices in Mandi Gobindgarh eased by INR 300/t day‑on‑day to INR 29,000/t DAP, while steel‑grade pig iron in Ludhiana held stable at INR 40,400/t DAP, pig iron prices remained stable for the last three days.
Steel market trends
In Mandi, ingot prices were unchanged d-o-d at INR 40,000/t DAP during the price‑reporting and normalisation phase, while major markets saw declines of INR 100-200/t. Rebar (Fe500) in Mandi dipped by INR 100/t d-o-d to INR 47,000/t ex‑works, and HR strip (patra) prices weaken by INR 200/t to INR 46,600/t ex‑works.
Price highlights
End-cutting to billet spread: In Mandi, the spread between end-cutting scrap and billets stood in the range of INR 4,300-4,700/t.
Domestic vs imported scrap: Imported melting scrap prices at Nhava Sheva Port were assessed at $335/t, approximately INR 34,550/t (inclusive of freight). HMS (80:20) in Mumbai inched down by INR 50/t d-o-d to INR 31,550/t DAP. Indicative prices of shredded from Europe stood at $392/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 14,050/t.
To see BigMint’s melting scrap assessment, pricing methodology and specification documents, click here
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