- Scrap prices remain unchanged for 3rd straight day
- Finished steel prices decrease by INR 100-200/t d-o-d
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, remained flat d-o-d at INR 35,600/tonne (t) DAP on 21 August 2025.
The Mandi Gobindgarh steel market witnessed a quiet session today, with no significant trading activity seen in the finished steel segment. As a result, prices declined by INR 100-INR 200/t. Meanwhile, scrap prices remained unchanged for the third consecutive day, indicating a stable but cautious market sentiment.
Overall, the market continues to stay on hold amid limited demand and subdued trade movement.
Alternative raw materials
Prices of sponge iron in Mandi Gobindgarh remained firm at INR 30,000/t DAP, marking a week-long stretch of stability. Meanwhile, Ludhiana’s pig iron market recorded a slight INR 100/t dip d-o-d to INR 35,700/t DAP, reflecting weak demand conditions.
Steel market trend
Semi-finished steel prices in Mandi Gobindgarh continued to show stability, assessed at INR 40,400/t DAP. Conversely, steel ingot prices in major production centers declined by INR 50-200/t, signalling persistent weakness in market sentiment.
In the finished steel market, rebar (Fe500) prices in Mandi dropped INR 200/t d-o-d to INR 45,300/t ex-works. HR strip (patra) prices also softened by INR 100/t, reaching INR 42,600/t ex-works, indicating continued weakness in demand.
Overview of Alang scrap market
Gujarat’s Alang ship-breaking melting scrap prices dropped by INR 100/t d-o-d on 21 August 2025. BigMint assessed HMS (80:20) prices at INR 31,900/t ex-yard. Semi-finished steel prices fell by INR 200-300/t in yesterday’s trading. Due to modest scrap trade volumes, suppliers were prompted to cut their offers today.
Upcoming scrap auctions
Price highlights
End-cutting-billets spread: In Mandi, the end-cutting scrap and billet spread stood at INR 4,800-5,200/t.
Domestic vs imported scrap: Imported melting scrap prices at Nhava Sheva Port were at $335/t, which equates to approximately INR 31,442/t (including freight). HMS (80:20) prices in Mumbai remained steady at INR 31,500/t DAP today. Indicative prices of shredded from Europe stood at $365/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 13,500/t.
To check BigMint’s melting scrap assessment, pricing methodology, and specification documents, click here.
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