SteelMint’s domestic steel scrap (end-cutting) index fell marginally by INR 100/tonne (t) to INR 46,200/t DAP Mandi Gobindgarh on 20 July, 2022.
LMS (light melting scrap) prices are assessed at INR 41,200/t, HMS 80:20 at INR 43,900/t, and CR busheling at INR 47,200/t.
However, in Ludhiana prices for end cutting and CR-busheling scrap received higher bids at around INR 700-800/t.
Ingots prices in Mandi also remained stable d-o-d at INR 51,700/t at the time of reporting and price normalisation.
Overall, the semi-finished and finished steel markets remained quiet. Only offer prices were revised throughout the day, while sellers adopted a wait-and-see posture.
Shipbreaking melting scrap prices fell by INR 500/t d-o-d in Gujarat’s Alang market, SteelMint assessment shows. HMS (80:20) prices are assessed at INR 43,000/t ex-yard.
Market highlights-
End-cutting and ingot spread: The end-cutting scrap and ingot spread remained unchanged today at INR 5,700-6,000/t.
Domestic and imported scrap price gap: Yesterday, the price of scrap HMS 1&2 (80:20) in containers edged down by $3-8/t. A current offer from Dubai stands at $470/t, while Europe-origin scrap is being offered at $440/t CNF Nhava Sheva. Scrap imports are preferred by Mumbai-based mills and those in the nearby regions because domestic scrap is expensive by about INR 4,000-5,000/t.
Raipur sponge iron-billet spread: Raipur’s DRI conversion spread (margins) to steel billets is estimated at approximately INR 14,750/t on a daily basis.
To see SteelMint’s Melting Scrap Assessment, pricing methodology and specification documents,Click here
Please note that this index was not published on time due to some technical issues. We apologize for the inconvenience.
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