- Raw material prices remain flat d-o-d
- Finished steel prices dip by INR 200/t
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, remained firm d-o-d at INR 35,600/t DAP on 30 July 2025. Trade activity was firm in today’s final trading session, buoyed by a modest uptick in spot demand in the semi-finished steel market. However, momentum in the finished steel segment continued to lag, reflecting subdued market sentiment.
Imported scrap trends in northern region
A mill owner informed, “Buying activity is gradually picking up as Indian steel scrap buyers begin procuring imported scrap. Although the market continues to face a bid-offer disparity, buyers remain optimistic about improved demand in the steel segment in the upcoming month.”
Raw material prices
In Mandi, sponge iron (CDRI) prices held firm day-on-day at INR 30,000/t DAP. Likewise, pig iron prices in Ludhiana (Punjab) remained unchanged at INR 36,000/t DAP.
Steel market trends
Steel ingot prices in Mandi remained unchanged day-on-day, holding steady at INR 40,500/t DAP. The semi-finished steel market stayed range-bound, witnessing slight fluctuations with a marginal drop of INR 100-200/t across major trading hubs. Meanwhile, rebar (Fe500) prices slipped by INR 200/t to INR 45,400/t exw, as the market continued to reflect a sluggish trend.
Overview of Alang market
Melting scrap prices in Alang fell for the second consecutive day on 30 Jul’25, with HMS (80:20) assessed at INR 31,800/t ($364/t) ex-yard, reflecting a INR 200/t drop from the previous session, as per BigMint data. The correction follows waning demand and a recent INR 200–500/t decline in semi-finished steel prices, compelling scrap sellers to adjust offers downward to stimulate buying in a slow market environment.
Additionally around seven-eight ships are currently available for breaking at Alang, with around five or more additional vessels expected to arrive in the coming days.
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 $335-340/t, which equates to approximately INR 32,013/t (including freight). HMS (80:20) prices in Mumbai fell by INR 100/t to INR 30,600/t DAP today. Indicative prices of shredded from Europe stood at $368/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 12,700/t.
To check BigMint’s melting scrap assessment, pricing methodology, and specification documents, click here.
Leave a Reply