Tag: scrap price decline India

India: BigMint’s ferrous scrap index softens amid cautious steel market sentiment

Oct 12, 2026

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by

Tarun Naidu

in Melting Scrap

Sponge iron prices dip INR 100/t d-o-d Semis, finished steel prices decrease INR 200-250/t BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, declined by INR 600/tonne (t) d-o-d to INR 41,500/t DAP on 12 October 2026. Mandi Gobindgarh’s secondary steel market is grappling with subdued finished steel demand, prompting a majority of mills…