- Sponge iron prices rise INR 100/t d-o-d
- Semi-finished steel prices up INR 100/t
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, rose INR 400/tonne (t) to INR 34,300/t DAP on 18 September 2025.
In Mandi, major GST checks were carried out at the plant level as well as at the border areas by higher authorities, including director-level officials. This is the reason why scrap from outside was unable to enter Mandi. As a result, the mills were forced to raise semis/ingot prices, to increase scrap purchases today. This situation impacted not only scrap sourcing but also the sales of finished goods outside Mandi.
Following the ingot price hike in the Mandi Gobindgarh market, major mills in Ludhiana also raised their prices by INR 300-400/t for EN8D/MS ingots. However, despite the price increase, mills continue to face challenges in clearing inventories.
Market participants are hopeful that demand may improve in the coming weeks, supported by the recent GST rule changes, the end of the rainy season, and the onset of the festive period. The automobile sector—particularly the two-wheeler and four-wheeler segments—is expected to drive this potential demand recovery.
Alternative raw material prices
Sponge iron (CDRI) prices in Mandi Gobindgarh increased by INR 100/t d-o-d to INR 30,300/t DAP. In Ludhiana, steel-grade pig iron prices were steady at INR 35,100/t DAP.
Steel market trends
The semi-finished steel market in Mandi Gobindgarh recorded a day-on-day increase of INR 100/t, with current prices assessed at INR 39,400/t DAP during the reporting and normalisation period. Across major steel hubs, prices increased by INR 150-500/t, reflecting a positive market trend. Notably, Ahmedabad market witnessed a sharp rise of INR 500/t, driven by active trade and firm demand.
Similarly, in the rebar (Fe500) segment, Mandi prices increased by INR 100/t d-o-d to INR 43,800/t exw, supported by moderate demand.
Overview of Alang market
Ship-breaking melting scrap prices in Alang, Gujarat, remained stable d-o-d on 18 Sep’25. According to BigMint’s assessment, HMS (80:20) prices were at INR 30,900/t ($351/t) ex-yard. On the occasion of Vishwakarma pooja, trade activities were almost muted in the region. This, along with restricted trading activities for semi-finished and finished steel, prompted scrap suppliers to keep their offers stable 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 $331-334/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 12,400/t.
To see BigMint’s melting scrap assessment, pricing methodology and specification documents, click here
To provide feedback on this index or if you would like to contribute by becoming a data partner, please contact – support@bigmint.co
Leave a Reply