Mumbai Scrap Rate Today – 2 November 2026 | Iron Scrap, HMS & Melting Scrap Prices
Mumbai HMS 80:20 is ₹36,700/MT DAP on BigMint’s 15 October assessment, stable day on day after slipping from ₹37,000 on 5 October. Mumbai MS ingot was last quoted at ₹46,500/MT (−₹500) on 13 October and the provider’s Mumbai melting line held at ₹36,900 for a week. Imported melting scrap at Nhava Sheva was assessed at $368–370/t, about ₹37,300/MT landed including freight (BigMint, 15 October) – so domestic Mumbai scrap now sits only about ₹600/MT under import parity, the tightest since August, because the rupee has strengthened to ₹94.97. That is the number that decides whether a Mumbai furnace buys local or books a container, and this week it is close to a coin toss.
₹36,700
🟠 HMS 80:20 DAP · BIGMINT 15 OCT · STABLE
₹46,500
🔵 MS INGOT · PROVIDER 13 OCT · −₹500
≈ ₹37,300
🟠 IMPORTED MELTING SCRAP LANDED · BIGMINT 15 OCT
₹94.97
USD/INR · 2 November 2026 · −₹1.45 SINCE 6 OCT
Where Steel Baba has no verified quotation for a city on the day, this page says so instead of printing a number. Different bases are never averaged.
What We Can Verify for Mumbai Today
Dated figures only · the market this city prices against
| Market / grade | Rate | Source |
|---|---|---|
| Mumbai – HMS 80:20 | ₹36,700/MT DAP (stable d-o-d; ₹37,000 on 5 Oct, ₹36,500 on 23 Sept) | 🟠 BigMint, 15 Oct |
| Mumbai – melting scrap (quoted) | ₹36,900/MT (flat for a week) | 🔵 Provider, 13 Oct |
| Mumbai – MS ingot | ₹46,500/MT (−₹500); BigMint noted ≈ −₹400 on 5 Oct | 🔵 Provider, 13 Oct · 🟠 BigMint |
| Nhava Sheva – imported melting scrap | $368–370/t; ≈ ₹37,300 landed incl. freight | 🟠 BigMint, 15 Oct |
| Nhava Sheva – EU shredded | $415/t CFR | 🟠 BigMint, 14 Oct |
| Alang – HMS 80:20 (ex-yard) | ₹37,300/MT, flat | 🟠 BigMint, 16 Oct |
| Navi Mumbai / Taloja industrial lots | not re-verified this month | ⚪ earlier dealer band ₹38,100 prepared |
How the Mumbai Scrap Market Actually Works
Who buys, what competes, and where the freight sits
Mumbai is a port market before it is anything else. JNPT and Nhava Sheva sit a few kilometres from the Taloja, Rabale and Bhiwandi yards, so the ceiling on a Mumbai HMS bid is always the landed cost of a container. This week that ceiling is about ₹37,300/MT (BigMint, 15 Oct) and the domestic bid is ₹36,700 – a gap of roughly ₹600, down from ₹1,700 in late September, almost entirely because the rupee went from ₹96.42 to ₹94.97. At ₹1,700 the ceiling was theoretical; at ₹600 it is a number a furnace manager puts in front of a seller. Mumbai HMS has not risen since 5 October and is unlikely to while that gap stays this narrow.
Supply is industrial, not demolition-led. Bhiwandi’s powerloom sheds, Taloja and Rabale MIDC, the Thane–Belapur belt and the dockyards feed a steady flow of sheet, structural and busheling. Factory-direct MIDC lots carry a premium over yard-mixed material because the buyer knows the origin; demolition tonnage from redevelopment adds volume but arrives mixed and moisture-heavy, especially in the weeks after monsoon. BigMint’s 5 October note that Mumbai and Ahmedabad ingot fell about ₹400 in a single day, and the provider’s −₹500 Mumbai ingot print on 13 October, say the local re-rollers are not short of feed.
Freight is the lever for anyone outside the city. Mumbai pays well on sticker but takes 15–30 days on larger lots and is 250–400 km from Nashik, Pune or Marathwada yards. ₹1,300–2,500/MT of road freight plus the payment wait is what a seller should subtract before comparing a Mumbai quote with a same-day mill sheet like Jalna (Punching ₹37,700 on 2 November 2026); on today’s numbers a Marathwada seller nets about ₹2,600/MT more at home.
National Reference Prices – 2 November 2026
The verified anchors every Indian scrap quote is measured against
| Market / grade | ₹/MT | Change | Source |
|---|---|---|---|
| Jalna – Punching (mill sheet) | ₹37,700 | −300 vs 13 Oct; −1,300 in two sheets | 🟢 Mill setting sheet, 2 November 2026 |
| Jalna – Melting / Super (mill sheet) | ₹35,700 / ₹34,700 | −300 | 🟢 Mill setting sheet, 2 November 2026 |
| Mandi Gobindgarh – End cutting index | ₹40,700 DAP | −400 on 15 Oct after +300 on 14 Oct | 🟠 BigMint · local quote ₹39,100 (🔵 13 Oct) |
| Mandi Gobindgarh – HMS / ingot / rebar | ₹37,500 / ₹46,600 / ₹52,200–52,500 | −400 / −400 / −300 | 🟠 BigMint, 15 Oct |
| Mumbai – HMS 80:20 | ₹36,700 DAP | stable d-o-d | 🟠 BigMint, 15 Oct |
| Imported melting scrap, Nhava Sheva | $368–370/t (≈ ₹37,300 landed incl. freight) | ≈ −₹900 since late Sept on the rupee | 🟠 BigMint, 15 Oct |
| USD/INR | ₹94.97 | −1.45 since 6 Oct | Indicative, 2 November 2026 11:50 AM IST |
Three things are true across India this week and apply here. Finished steel is falling – Mandi patra about ₹3,500 and TMT about ₹2,300 below early October, with ingot down ₹100–500 in every tracked market on 13 October – so furnace bids for scrap are following with a lag. The rupee has strengthened ₹1.45 in eleven days, which has cut landed import cost by about ₹550/MT and brought the Mumbai import ceiling within ₹600 of the domestic bid. And mills are buying need-based while managing inventory (BigMint, 15 Oct), so BigMint’s one-day bounce on 14 October reversed on the 15th. Mumbai HMS has held at ₹36,700 through it; with ingot falling and imports this close, holding is the best case rather than the floor.
Selling Scrap Safely in Mumbai
The four checks that remove most of the risk
| Insist on | Why |
|---|---|
| Rate agreed by named grade before loading | Stops a regrade at the gate from rewriting the deal |
| Certified weighbridge slip | A 150 kg dispute on one truck is ₹5,000–6,000 at today’s rates |
| Tax invoice with GSTIN | Required for input credit; a buyer paying without one is discounting your material |
| Payment timing in writing | 30–60 day terms cost 2–4% of the load in money terms alone |
Mumbai Scrap Rate FAQs
BigMint assessed Mumbai HMS 80:20 at ₹36,700/MT DAP on 15 October 2026, stable day on day – down from ₹37,000 on 5 October and up from ₹36,500 on 23 September. The provider’s Mumbai melting line held at ₹36,900/MT through 13 October and Mumbai MS ingot was quoted at ₹46,500/MT (−₹500) the same day. Imported melting scrap at Nhava Sheva was assessed at $368–370/t, about ₹37,300/MT landed including freight (BigMint, 15 Oct), so domestic scrap sits roughly ₹600 under import parity. Dealer bands for prepared industrial lots are not re-verified this month. All figures exclude 18% GST.
Because Nhava Sheva is next door. When landed imported scrap costs more than domestic scrap, furnaces buy local and imports stay need-based; when the gap narrows, import offers set the ceiling on Mumbai bids. In late September the gap was about ₹1,700/MT (₹38,200 landed against ₹36,500 domestic). On 15 October it was about ₹600 (₹37,300 against ₹36,700), almost entirely because the rupee strengthened from ₹96.42 to ₹94.97 – the same container got roughly ₹550/MT cheaper on currency alone. That is why Mumbai HMS has not risen since 5 October even though it has not fallen either.
On gross, Mumbai’s industrial lots and Jalna’s mill sheet (Punching ₹37,700 on 2 November 2026, after two cuts in a week) are close. Mumbai typically pays in 15–30 days and sits 250–400 km from Marathwada; Jalna pays same day with no freight for local material. Net of ₹1,300 freight and a 15–30 day wait, a Marathwada seller keeps about ₹2,600/MT more in Jalna on today’s numbers – and avoids the price risk of a wait in a market where ingot is falling. A Thane or Bhiwandi seller should compare the other way, and should know that with imports now within ₹600 of the domestic bid, Mumbai furnaces have less reason to pay up than they did a fortnight ago.
Selling bulk iron scrap from Mumbai? Get a grade-wise quote against today’s mill sheet.
Send grade, approximate tonnage and location. We tell you plainly whether a Jalna sale beats your local bid after freight – and if it does not, we say so.