- Sponge iron prices decrease by INR 200/t
- Semi-finished steel prices gain INR 100/t d-o-d
BigMint’s domestic end-cutting scrap index in the Mandi Gobindgarh market remained stable d-o-d at INR 35,500/t DAP on 10 December 2025. Semi-finished steel prices showed marginal improvement, supported by better buying inquiries during the latter part of the previous trading session. However, trading activity slowed again today, leading to a cautious market outlook.
Alternative feedstock prices
In the raw material segment, sponge iron (CDRI) prices in Mandi Gobindgarh slides by INR 200/t d-o-d to INR 28,800/t DAP, While steel-grade pig iron prices in Ludhiana inched up by INR 50/t to INR 34,700/t DAP.
Steel market trends
Semi-finished steel (ingot) prices in Mandi Gobindgarh saw a slight increase of INR 100/t, settling at INR 40,300/t DAP during the reporting and normalisation period. Other major production centers also recorded gains of INR 100-250/t during today’s trading.
In the finished steel segment, rebar (Fe500) prices remained stable d-o-d, and are currently assessed at INR 44,900/t ex-works.
Overview of Alang market
Ship-breaking melting scrap prices in Alang, Gujarat, remained unchanged d-o-d on 10 December. According to BigMint’s assessment, HMS (80:20) was at INR 30,800/t ($343/t) ex-yard. Semi-finished and finished steel prices held largely steady in the previous trading session in the region. That apart, moderate trade activity in scrap prompted suppliers to keep their offers unchanged today.
Price highlights
End-cutting to billet spread: In Mandi, the spread between end-cutting scrap and billets stood in the range of INR 4,700-5,000/t.
Domestic vs imported scrap: Imported melting scrap prices at Nhava Sheva Port were assessed at $318-$320/t, approximately INR 30,800/t (inclusive of freight). HMS (80:20) in Mumbai remained stable d-o-d at INR 30,300/t DAP. Indicative prices of shredded from Europe stood at $348-350/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 13,450/t.
To see BigMint’s melting scrap assessment, pricing methodology and specification documents, click here
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