SteelMint’s domestic steel scrap (end-cutting) index slipped INR 300/tonne (t) to INR 46,800/t DAP Mandi Gobindgarh on 22 August, 2022.
LMS (light melting scrap) prices were assessed at INR 41,800/t, HMS 80:20 at INR 44,500/t, and CR busheling at INR 48,000/t.
Ingot prices in Mandi witnessed a downward correction of INR 200/t d-o-d to INR 51,500/t at the time of reporting.
Improved availability of scrap and correction in semis and finished steel prices led to the decline in scrap prices.
In Gujarat’s Alang market shipbreaking melting scrap prices remained stable today, as per SteelMint assessment. HMS (80:20) prices are assessed at INR 45,500/t exy.
Market highlights –
End-cutting and ingot spread: The spread between end-cutting scrap and ingots in Mandi stands at around INR 5,800/t.
Raipur sponge iron-billet spread: The current conversion spread (margins) from pellet-based DRI (P-DRI) to steel billet in Raipur stands at around INR 14,150/t.
Domestic and imported scrap price gap: Imported melting scrap prices at Nhava Sheva Port were at around $480-500/t, while local scrap – HMS(80:20) – prices in Mumbai were assessed at INR 43,200/t FOR. Mumbai-based mills and those in the nearby regions are preferring to import scrap as domestic scrap prices are higher by about INR 3,000-3,500/t.
To see SteelMint’s Melting Scrap Assessment, pricing methodology and specification documents, Click Here
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