- Semi-finished steel prices gain INR 150/t d-o-d
- In Ludhiana, pig iron prices drop by INR 100/t
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, increased by INR 100/tonne (t) d-o-d to INR 34,400/t DAP on 19 September 2025. Mild scrap shortage and ongoing GST checks were seen in the market today, prompting suppliers to raise their offers.
Imported scrap sentiment
Major offers for HMS 80:20 CFR Nhava Sheva and Mundra ports were heard at around $330-335/t, while shredded material was offered at $360-365/t. However, buying activity remained dull, as buyers are seeking a reduction of $5-10/t before confirming any deals. At present, the situation suggests that buyers are unwilling to increase their bids, while sellers continue to hold firm at the current offer levels.
Alternative raw material prices
Prices of sponge iron (CDRI) in Mandi rose by INR 200/t day-on-day to INR 30,500/t DAP. In contrast, steel grade pig iron prices in Ludhiana saw a d-o-d decline of INR 100/t, settling at INR 35,000/t DAP.
Steel market trends
Steel ingot prices in Mandi Gobindgarh rose by INR 150/t d-o-d to INR 39,600/t DAP during the reporting and normalisation period. Simultaneously, semi-finished steel prices in other regions recorded an uptick of INR 100-300/t, indicating a mildly positive trend in the market.
Rebar (Fe 500) prices in Mandi Gobindgarh climbed by INR 200/t to INR 44,000/t ex-works, supported by moderate demand.
Overview of Alang market
Ship-breaking melting scrap prices in Gujarat’s Alang market decreased by INR 200/t d-o-d on 19 Sep’25. According to BigMint’s assessment, HMS (80:20) stood at INR 30,700/t ($348/t) ex-yard. As per sources, although semi-finished steel prices remained firm in the region during yesterdays session, overall trade activity was moderate. Persistent liquidity constraints continued to hamper buying interest, prompting suppliers to reduce their offers today.
Price highlights
End-cutting-billets spread: In Mandi, the end-cutting scrap and billet spread stood at INR 4,900-5,200/t.
Domestic vs imported scrap: Imported melting scrap prices at Nhava Sheva Port were at $330-335/t, which equates to approximately INR 31,500/t (including freight). HMS (80:20) prices in Mumbai remained steady at INR 31,200/t DAP today.
Raipur sponge iron-billet spread: The conversion spread (margin) between pellet-based DRI (P-DRI) and steel billets in Raipur stood at INR 12,450/t.
To see BigMint’s melting scrap assessment, pricing methodology and specification documents, Click here
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