India’s benchmark domestic scrap index fall to over 4-year low in Jul’25

India’s domestic ferrous scrap market has hit its lowest point in over four years, with prices across key hubs-Mandi Gobindgarh, Chennai and Jalna-declining by INR 2,000-2,500/tonne (t) since May 2025. Scrap traders and mill sources attribute the decline to sluggish steel market conditions, greater availability of alternative feedstock like sponge iron, deteriorating raw materials-to-finished steel price spreads, and ongoing liquidity constraints affecting the secondary steel sector.