SteelMint’s domestic steel scrap (end-cutting) index rose by INR 600/tonne (t) to INR 44,400/t DAP Mandi Gobindgarh on 13 January, 2023.
The index rose as semi-finished steel demand and prices improved in today’s trading session.
Steel ingots prices in Mandi Gobindgarh increased by INR 400/t d-o-d to INR 50,400/t at the time of reporting and price normalisation. Prices in almost all the key markets have increased by up to INR 1,000/t today.
Today the Ludhiana market remained closed on the occasion of Lohiri festival, while the Mandi market remained largely inactive in the second half today.
Snapshots of other markets
Alang: In Gujarat’s Alang market, ship-breaking melting scrap prices remained stable d-o-d today. As per SteelMint’s assessment, HMS (80:20) prices stand at INR 39,000/t exy. Despite an increase in semi-finished and finished steel prices in the last trading session, moderate buying enquiries for scrap at current prices prompted suppliers to keep offers stable.
Jalna: Today, prices of semis in western India’s Jalna market remained stable at INR 50,500/t, while rebar prices increased by INR 300/t to INR 56,800/t. On the other hand, HMS 80:20 scrap prices improved by INR 500/t to INR 38,000/t DAP.
Price highlights
End-cutting and billets spread: In Mandi, the end-cutting scrap and billets spread was at around INR 5,000-5,500/t.
Domestic and imported scrap price gap: Imported melting scrap prices at Nhava Sheva Port were at around $435-440/t (including freight, which equates to approximately INR 38,100/t), while local scrap – HMS (80:20) – prices in Mumbai were assessed at INR 37,500/t.
Raipur sponge iron-billet spread: The current conversion spread (margin) from pellet-based DRI (P-DRI) to steel billets in Raipur stands at around INR 15,800/t.
To see SteelMint’s melting scrap assessment, pricing methodology and specification documents, Click here
To provide feedback on this index or if you would like to contribute by becoming a data partner, please contact – info@steelmint.com.
Leave a Reply