SteelMint’s domestic steel scrap (end-cutting) index fell marginally by INR 450/tonne (t) to INR 47,800/t DAP Mandi Gobindgarh on 18 August, 2022.
LMS (light melting scrap) prices were assessed at INR 42,800/t, HMS 80:20 at INR 45,500/t, and CR busheling at INR 49,000/t.
Steel ingot prices in Mandi witnessed a slight correction of INR 600/t d-o-d to INR 52,500/t at the time of reporting and price normalisation.
Overall, the semi-finished and finished steel markets remained quiet with prices fluctuating throughout the day as buyers and sellers stood on the sidelines.
Shipbreaking melting scrap prices in Alang, Gujarat, remained stable d-o-d, as per SteelMint assessment. HMS (80:20) prices are assessed at INR 45,200/t exy.
Market highlights
End-cutting scrap and ingot spread: The spread between end-cutting scrap and ingots remains unchanged at INR 6,000/t.
Domestic and imported scrap price gap: Local scrap – HMS(80:20) in Mumbai was assessed at INR 43,300/t FOR, while imported melting scrap (HMS 80:20) cost INR 40,700/t to Mumbai. Due to the high domestic scrap prices, Mumbai-based mills and those in nearby regions prefer importing scrap.
Raipur sponge iron-billet spread: The conversion spread (margin) from pellet-based DRI (P-DRI) to billets in Raipur stood at around INR 14,100/t.
To see SteelMint’s Melting Scrap Assessment, pricing methodology and specification documents, Click Here
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