Punjab Scrap Rate Today – 1 October 2026 | Iron Scrap, HMS & Melting Scrap Prices
Punjab’s scrap price is set in Mandi Gobindgarh, and every grade on that board is quoted ₹300/MT higher today and ₹1,400–1,500 higher than a week ago: end cutting ₹41,000, melting ₹39,500, old scrap ₹36,000, CRC ₹42,000, ingot and billet ₹48,400–48,500. Three of those figures are matched to the rupee by ScrapMarket alerts the same morning. Ludhiana’s steel-grade pig iron is ₹45,400/MT, Jalandhar ₹45,200 (+₹200), Batala ₹45,000; foundry grade is ₹48,200–48,500 across the corridor. BigMint’s independent end-cutting index was ₹41,600 DAP on 26 September – no newer public print yet.
₹41,000
🔵 MANDI END CUTTING · 1 OCT · +₹300
₹48,400–48,500
🔵 MANDI INGOT & BILLET · +₹300
₹45,400
🔵 LUDHIANA PIG IRON, STEEL GRADE
₹41,600
🟠 BIGMINT END-CUTTING INDEX DAP · 26 SEPT
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 Punjab Today
Dated figures only · the market this city prices against
| Market / grade | Rate | Source |
|---|---|---|
| Mandi Gobindgarh – End cutting | ₹41,000 (+300; +1,500 w-o-w) | 🔵 Quoted 1 Oct · ScrapMarket agrees · 🟠 BigMint index ₹41,600 DAP |
| Mandi – Melting / Old scrap / CRC | ₹39,500 / ₹36,000 / ₹42,000 | 🔵 Quoted 1 Oct, all +300 |
| Mandi – MS ingot & billet | ₹48,400–48,500 (+300) | 🔵 Quoted 1 Oct · BigMint ingot ₹46,850, billet ₹47,350 DAP (23 Sept) |
| Ludhiana / Jalandhar / Batala – pig iron, steel grade | ₹45,400 / ₹45,200 (+200) / ₹45,000 | 🔵 Quoted 1 Oct · BigMint Ludhiana ₹43,300 DAP (23 Sept) |
| Ludhiana / Batala / Jalandhar – pig iron, foundry | ₹48,500 / ₹48,500 / ₹48,200 | 🔵 Quoted 1 Oct, flat |
| Ludhiana – prepared scrap | ≈ ₹38,700 | ⚪ dealer survey, not re-verified; below Mandi end cutting today |
How the Punjab Scrap Market Actually Works
Who buys, what competes, and where the freight sits
Gobindgarh is an induction-furnace town that prices scrap off the ingot it sells. The spread between end cutting and ingot is the number the whole corridor watches. On today’s local quotes it is ₹7,400–7,500/MT; on BigMint’s last published pair it was about ₹5,400, and BigMint’s own norm is ₹5,200–5,600. A spread this wide means mills have recovered margin faster than they have raised scrap bids – scrap has room to catch up if ingot holds.
Ludhiana is a different market in the same state. Its buyers are foundries and forging units working off pig iron and CR busheling (BigMint tracks loose CR busheling DAP-Ludhiana daily), not melting scrap for TMT. That is why Ludhiana’s prepared-scrap quotes sit below Mandi’s end cutting today while its pig iron is the firmest line in Punjab. Jalandhar and Batala follow Ludhiana’s pig iron with a ₹200–400 lag.
Supply comes from a tight corridor and arrives in waves. Fatehgarh Sahib, Khanna, Sirhind and the Ludhiana industrial estates feed the furnaces; when inflows from Haryana and Rajasthan surge – as a mill owner told BigMint they did in late September, prompting a 50–60% cut in buying – Mandi prices fall faster than anywhere else in India. This week’s board-wide lift is the first unwinding of that cut. Payment terms of 30–60 days are standard for out-of-state sellers; local sellers settle faster. Full Mandi detail: Mandi Gobindgarh scrap rate today.
National Reference Prices – 1 October 2026
The verified anchors every Indian scrap quote is measured against
| Market / grade | ₹/MT | Change | Source |
|---|---|---|---|
| Jalna – Punching (mill sheet) | ₹38,800 | +300 vs 26 Sept sheet | 🟢 Mill setting sheet, 1 Oct |
| Jalna – Melting / Super (mill sheet) | ₹36,800 / ₹35,800 | +300 | 🟢 Mill setting sheet, 1 Oct |
| Mandi Gobindgarh – End cutting | ₹41,000 | +300 d-o-d; +1,500 w-o-w | 🔵 Quoted 1 Oct, ScrapMarket agrees · 🟠 BigMint index ₹41,600 DAP (26 Sept) |
| Mandi Gobindgarh – Old scrap / MS ingot | ₹36,000 / ₹48,400–48,500 | +300 | 🔵 Quoted 1 Oct |
| Mumbai – HMS 80:20 | ₹36,500 DAP | stable d-o-d | 🟠 BigMint, 23 Sept |
| Imported HMS 80:20, CFR India | $365–375/t (≈ ₹38,200 landed incl. freight) | need-based buying | 🟠 BigMint weekly, 26 Sept |
| USD/INR | ₹95.97 | +0.09 | Indicative, 1 Oct 11:00 AM IST |
Three things are true across India this week and apply here. Semis firmed first – MS ingot is ₹1,200–2,000/MT higher than a week ago in six tracked markets and BigMint reported blast-furnace rebar rising on low mill inventories – so furnace bids for prepared scrap are recovering with a lag. Imports are not competing: containerised HMS at $365–375/t CFR lands near ₹38,200/MT and mills are buying need-based. And the recovery is from a low base: mills had cut procurement 50–60% in late September on oversupply (BigMint, 23 Sept), so two weeks of small rises is a direction, not yet a rally.
Selling Scrap Safely in Punjab
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 |
Punjab Scrap Rate FAQs
On 1 October 2026 the Gobindgarh board is quoted at end cutting ₹41,000/MT, melting ₹39,500, old scrap ₹36,000, CRC ₹42,000, and MS ingot and billet ₹48,400–48,500 – all +₹300 on the day and ₹1,400–1,500 above 26 September. ScrapMarket alerts match ingot, end cutting and old scrap exactly. BigMint’s independent end-cutting index was ₹41,600/MT DAP on 26 September. Excludes 18% GST.
Steel-grade pig iron is quoted at ₹45,400/MT in Ludhiana, ₹45,200 in Jalandhar (+₹200) and ₹45,000 in Batala; foundry grade ₹48,500 in Ludhiana and Batala, ₹48,200 in Jalandhar, all unchanged on the day. BigMint assessed Ludhiana steel-grade pig iron at ₹43,300/MT DAP on 23 September – a different basis and three days earlier.
Mandi’s furnaces make ingot and billet and buy melting and end-cutting grades to do it; Ludhiana’s foundries and forges buy pig iron and busheling. Different products, different scrap demand. When ingot firms, Mandi’s scrap bids follow within a session or two; Ludhiana’s scrap quotes move with its engineering order books instead.
Selling bulk iron scrap from Punjab? 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.