- Tight availability of certain grades supports prices
- Semi-finished steel prices drop INR 100/t d-o-d
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, remained stable d-o-d at INR 36,500/tonne (t) DAP on 18 June 2025.
Market activity remained subdued today, with most purchases limited to immediate requirements. Ongoing weakness in demand for both semi-finished and finished steel kept buyer sentiment soft. However, tight availability in selected scrap grades enabled a few suppliers to maintain stable prices despite the overall slowdown.
Alternative raw materials
Sponge iron (CDRI) prices in Mandi Gobindgarh remained unchanged d-o-d at INR 29,200/t DAP. Steel-grade pig iron prices in Ludhiana were up marginally by INR 200/t to INR 36,000/t DAP.
Steel market trends
Steel ingot prices in Mandi Gobindgarh fell by INR 100/t d-o-d to INR 41,600/t DAP amid weak market sentiment and limited trading. In other key regions, semi-finished steel saw a marginal decline of INR 100-200/t due to subdued demand.
Rebar prices in Mandi stayed flat at INR 46,600/t exw, as buyers held off on fresh purchases.
Overview of Alang market
Alang’s ship-breaking scrap market showed no change on 17 June, with HMS (80:20) assessed at INR 32,500/t ex-yard, according to BigMint. Although steel prices declined, steady inquiries from Bhavnagar-based induction furnace mills helped prevent any price correction in scrap.
Upcoming scrap auctions
Price highlights
End-cutting-billets spread: In Mandi, the end-cutting scrap and billet spread stood at INR 5,200-5,500/t.
Domestic vs imported scrap: Imported melting scrap prices at Nhava Sheva Port were at $340-345/t, which equates to approximately INR 32,114/t (including freight). Today, local HMS (80:20) prices in Mumbai fell by INR 100/t to INR 30,700/t DAP. Indicative prices of shredded from Europe stood at $360-$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 15,000/t.
To check BigMint’s melting scrap assessment, pricing methodology, and specification documents, click here.
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