- Need-based procurement limits inventory build-up
- Kandla prices decline on softer FOB realisations
Mill scale prices across major domestic markets exhibited mixed trends during the assessment period ending 15 July 2026, reflecting divergent regional demand dynamics. According to BigMint’s assessment, Fe 69% mill scale prices in Kandla declined by INR 150/t to INR 7,850/t DAP compared with 11 July, pressured by weaker export demand and lower buyer bids. In contrast, Raipur prices remained stable at INR 7,050/t ex-works, supported by steady domestic procurement, while Jalna prices increased by INR 100/t to INR 6,600/t ex-works against 8 July on improved mill offers despite cautious buying.
Kandla: Export weakness drags prices lower
Mill scale prices in Kandla weakened during the week as exporters lowered purchase prices amid subdued overseas demand. Buyers largely restricted procurement to lower price levels, pulling the BigMint Kandla DAP Mill Scale Index below INR 8,000/t.
Current offers were heard at INR 7,750-7,900/t DAP, with fresh negotiations taking place around INR 7,800/t DAP. Market participants also reported export cargoes concluded at around $94-96/t FOB, reflecting softer sentiment in the seaborne market. Most cargoes booked earlier at prices above INR 8,000/t have now been executed, allowing the market to stabilise at corrected levels.
Around 6,000 t of transactions were concluded at INR 7,850/t DAP during the week. Market participants expect prices to remain under pressure over the next one to two weeks, with tradable levels likely to remain within INR 7,600-7,900/t DAP, unless export demand improves.
Raipur: Need-based buying supports stable market
Mill scale prices in Raipur remained firm during the week, supported by consistent buying interest at prevailing price levels. Although some suppliers moderated their offers from earlier highs to facilitate sales, transaction levels remained largely unchanged.
Procurement continued to be driven by immediate requirements amid the ongoing monsoon season, with buyers preferring to accumulate smaller parcels rather than build inventories. Trading activity remained healthy, with around 4,000 t of mill scale concluded at INR 7,000-7,100/t ex-works, indicating continued acceptance of prevailing price levels despite weather-related logistical disruptions.
Jalna: Prices edge higher, but buying remains cautious
Mill scale prices in Jalna increased during the assessment period as mills quoted offers in the range of INR 6,300-6,700/t ex-works. However, buyer acceptance at the upper end of the range remained limited, with most transactions continuing to conclude around INR 6,500/t.
Market participants noted that demand remained cautious as limited upside in flat and semi-finished steel prices continued to weigh on raw material procurement. Dispatches against previously booked orders, including cargoes concluded around INR 7,300/t FOR Wardha, remained ongoing, while fresh buying activity was largely muted.
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