SteelMint’s Mandi Gobindgarh Melting Scrap Index

Indian domestic ferrous scrap prices have fallen 24% and further southward movements are expected in the near term. SteelMint’s domestic steel scrap (end-cutting) index has fallen by INR 6,500-7,000/t m-o-m and the downtrend may continue in near term, as per market sources. On 18 November, 2022, the index fell by INR 1,100/tonne (t) to INR 36,800/t DAP Mandi Gobindgarh. This fall indicated that domestic melting scrap hit its lowest price level since April this year.