Tag: India: BigMint’s ferrous scrap index slides by INR 300/t as steel market stagnates

India: BigMint’s ferrous scrap index down INR 300/t d-o-d as steel market shows signs of stagnation

Nov 29, 2024

—

by

Tarun Naidu

in Melting Scrap

Sponge iron prices dip INR 200/t Weak demand for semis, finished steel continues BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market dropped by INR 300/t to INR 36,100/tonne (t) DAP on 29 November 2024. A mill owner informed, “The market remained rangebound as anticipated by local mills, with scrap procurement limited to need-based…