- Semis, finished steel prices remain steady
- Sponge iron prices improve by INR 200/t
BigMint’s domestic end-cutting scrap index in the Mandi Gobindgarh market remained stable d-o-d at INR 35,800/t DAP on 30 June 2025. Steel prices in Mandi Gobindgarh remained mostly unchanged today, with limited trading due to weak buying sentiment. Market activity was quieter than usual as buyers held back, waiting for stronger demand signals to emerge.
Alternative raw material prices
Sponge iron (CDRI) prices in Mandi Gobindgarh increased by INR 200/t d-o-d to INR 29,000/t DAP. In Ludhiana, steel-grade pig iron prices were steady d-o-d at INR 35,400/t DAP.
Steel market trends
Steel ingot prices in Mandi Gobindgarh were steady d-o-d at INR 41,000/t DAP during the reporting and normalisation period. Meanwhile, semi-finished steel prices in other key markets saw mixed trends. In the central India-based Raigarh market, ingot prices inched up by INR 200/t d-o-d to INR 36,200/t.
Rebar prices in Mandi remained stable d-o-d at INR 45,800/t exw, while HR strip (patra) prices improved by INR 300/t d-o-d to INR 43,400/t exw.
Overview of other markets
Ship-breaking melting scrap prices in Alang, Gujarat, remained stable d-o-d on 30 June. According to BigMint’s assessment, HMS (80:20) prices were at INR 31,300/t ($366/t) ex-yard. The region experienced moderate trading activity for semi-finished and finished steel during the previous session, along with steady scrap buying interest. This led scrap suppliers to keep their prices stable today.
Price highlights
End-cutting-billets spread: In Mandi, the end-cutting scrap and billet spread stood at INR 5,000-5,400/t.
Domestic vs imported scrap: Imported melting scrap prices at Nhava Sheva Port were at $333-335/t, which equates to approximately INR 30,900/t (including freight). Today, local HMS (80:20) prices in Mumbai remained steady d-o-d at INR 31,000/t DAP. Indicative prices of shredded from Europe stood at $360/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 14,600/t.
To see BigMint’s melting scrap assessment, pricing methodology and specification documents, Click here
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