India: Foundry ferrous scrap prices show mixed regional trends w-o-w on 21 Apr

• South firm on strong demand; rest see correction
  
  
• Strong OEM auction prices restrict downside
  
  

Domestic foundry ferrous scrap prices in India recorded a mixed trend w-o-w as of 21 April 2026, with southern markets showing resilience while western and eastern regions witnessed corrections. Strength in the south was driven by steady casting demand and tight supply of quality scrap, while higher OEM auction realizations kept overall price levels supported. In contrast, weaker order flows and improved scrap availability weighed on prices in other regions, indicating demand divergence across markets.

Region-wise commentary

Southern India (Chennai & Coimbatore):

Price momentum remained clearly positive, with plate scrap increasing by INR 1,000/t w-o-w to INR 44,800/t (Coimbatore) and INR 43,000/t (Chennai). However, CR-busheling showed limited movement (down INR 300/t in Coimbatore; flat in Chennai), indicating that the current uptrend is primarily driven by plate scrap demand rather than across-the-board strength.

Western India (Kolhapur):

The market showed a divergent correction, where prime scrap weakened sharply (CR-busheling down INR 1,400/t to INR 44,000/t), while plate scrap saw only a marginal decline (down INR 200/t to INR 42,300/t). This suggests selective demand pressure, particularly impacting higher-grade scrap.

Eastern India (Kolkata):

Prices declined INR 800/t w-o-w to INR 39,700/t, reflecting a broad-based correction. Unlike other regions, the fall here indicates overall weaker market participation rather than grade-specific movement.

Outlook

Foundry ferrous scrap prices appear to have reached near-term peak levels, with upward momentum showing signs of exhaustion. Rising input costs are increasingly pressuring foundry margins, and the inability to fully pass on these costs to end-users is likely to weigh on procurement sentiment.

As a result, foundry units may adopt a more cautious buying approach, actively negotiating with suppliers and resisting further price hikes. This could lead to bids stabilising at current levels or even witnessing mild corrections in the near term.