India: Mill scale prices rise across key markets; Kandla sees marginal correction

• Jalna Leads Weekly Gains Amid Active Bulk Trading
  
  
• Export Market Weakness Weighs on Kandla Prices
  
  

Mill scale prices remained largely firm across major domestic markets during the assessment period ending 24 June 2026, supported by steady demand and active trading activity. However, Kandla was the only market to register a marginal decline amid exporter pressure and softer iron ore sentiment.

According to BigMint's latest assessment, Fe 69% mill scale prices in Kandla fell by INR 50/t ($0.5/t) to INR 8,100/t ($86/t) DAP compared to 20 June. In contrast, prices in Raipur increased by INR 50/t ($0.5/t) to INR 7,050/t ($75/t) ex-works, while Jalna witnessed a rise of INR 100/t ($1/t) to INR 6,500/t ($69/t) ex-works against 17 June.

Kandla:

Mill scale prices in Kandla witnessed a slight correction during the week, although sellers largely resisted lower bids. Market participants expect prices to soften further over the next one to two weeks amid declining iron ore prices and persistent pressure from exporters seeking procurement at lower levels. Trading activity remained subdued as dispatches against previously concluded deals continued to occupy market volumes. While sellers attempted to maintain offers in the INR 8,100-8,300/t range, the market found support around INR 8,000/t. Participants indicated that the gradual liquidation of exporter-held inventories could improve material availability and encourage fresh purchases below the INR 8,000/t mark. During the week, around 4,500 t of mill scale transactions were recorded at INR 7,800-8,200/t ($83-87/t) DAP Kandla.

Raipur:

Mill scale prices in Raipur remained firm with a positive bias, primarily due to limited material availability in the market. Most suppliers had already committed available stocks, resulting in a shortage of spot material. At the same time, buying activity remained selective, as several consumers were awaiting deliveries of previously booked volumes. A Raipur-based trader informed BigMint, "I supplied material from old inventory and refrained from fresh purchases, as I expect prices to soften further." Despite cautious buying sentiment, the scarcity of material continued to lend support to prices. Approximately 700 t of deals were concluded during the week at INR 7,050-7,300/t ex-works.

Jalna:

Mill scale prices in Jalna moved up during the week, supported by active bulk trading and healthy procurement interest from buyers. Market sentiment remained positive as fresh bulk transactions complemented ongoing dispatches from earlier bookings. Higher offers from mills were largely accepted by buyers amid sustained demand. Additionally, steady material movement towards the Hospet region provided further support to market activity. Although concerns regarding water shortages in Mumbai persist, market participants indicated that the issue has yet to impact finished steel production or mill scale demand. Around 4,500 t of mill scale deals were concluded during the week at INR 6,400-6,600/t ex-works.