Iron Scrap Rate Today – (8 November 2026)

Scrap Iron Prices (City-Wise)

A city headline rate means little unless you know the grade behind it. The table below shows each hub’s old / melting scrap quote alongside its MS Billet and MS Ingot prices, so you can see where furnaces are paying up and where they are pulling back. In Jalna, the mill-verified sheet pays ₹37,400/MT for Melting and ₹36,400/MT for Super, while open-market dealer quotes sit ₹4,400 lower at ₹33,000 and ₹32,000. Search a city, filter by state, or tap any column header to sort. On a phone, swipe the table left or right to see every column.

Iron scrap rate today, 8 November 2026 (6:00 PM IST). ₹ per metric tonne, excluding 18% GST. “—” means no quote was reported for that hub today.

Jalna’s mills lifted almost every grade by ₹100/MT today even as North Indian markets eased, which widens Jalna’s lead for Marathwada sellers. Today’s open-market dealer quotes still sit at ₹33,000/MT for Melting and ₹32,000/MT for Super. The mill card pays ₹37,400/MT (₹37.40/kg) for Melting, ₹36,400/MT (₹36.40/kg) for Super, ₹39,400/MT (₹39.40/kg) for Punching and ₹39,500/MT (₹39.50/kg) for Rolling. Selling at the dealer number instead of the mill card leaves ₹4,400/MT on the table, or ₹44,000 on a single 10-tonne truck.

What You Actually Keep: Jalna Mill Card vs Out-of-State Hubs

Ludhiana (₹38,500) and Delhi (₹37,900) quote higher headline melting rates than Jalna today, but a Marathwada seller has to pay road freight and wait weeks for payment to get them. Compare like for like: Jalna Melting at ₹37,400 with same-day settlement nets about ₹3,300–₹4,700/MT more than any of these hubs once freight and working capital are counted.

Mandi Gobindgarh cut every scrap and semi-finished grade by ₹200/MT through the evening sessions, extending a slide that began earlier this week as mills bought only what they needed before the Diwali shutdown. Elsewhere, semis were mostly flat: Ludhiana billet held at ₹46,200 and Mumbai at ₹46,000, while eastern billet hubs (Durgapur, Raigarh, Barjora, Purulia) each dropped ₹200. Kotdwar ingot rose ₹400 and Raipur and Indore ingot gained ₹100.

1. Mandi Gobindgarh Scrap & Semis (5:00 PM & 6:00 PM IST)

2. Mandi Gobindgarh Finished & Structural Steel

3. MS Billet Prices Across India

4. MS Ingot Prices Across India

5. Pig Iron Foundry & Steel Grade Prices

Induction furnaces can melt sponge iron (DRI) in place of scrap. When scrap costs far more than sponge, furnaces blend in more sponge and scrap bids stall. That is exactly what today’s numbers show in the east: in Raigarh and Rourkela, melting scrap is ₹6,900–₹8,200/MT dearer than sponge, which is why eastern scrap and billet prices are the softest in India. In Mandi Gobindgarh the gap is only ₹2,200, and in Jaipur sponge actually costs more than local scrap, so mills there lean on scrap.

Scrap demand follows finished steel. Large integrated mills announced price increases for November deliveries, and flat steel is holding near ₹62,000–₹65,000/MT for HRC. That gives the market a floor. But traders report limited buying until after Diwali, and secondary TMT is moving only ₹100–₹200 at a time. Until long-product orders pick up after the festival, scrap is likely to trade sideways to slightly lower.

• Diwali slowdown (Diwali falls on Sunday, 8 November): Trade reports through this week describe need-based buying, thin volumes and cautious mills, with most activity expected to resume after the festival. Mandi Gobindgarh scrap had already slipped earlier in the week before today’s ₹200 cut. Labour usually returns one to two weeks after Diwali, so restocking demand is likely to build in the second half of November.
• Rupee recovers to ₹94.41: The rupee settled 5 paise stronger at ₹94.41 per dollar on 5 November, helped by lower crude oil prices and foreign fund inflows, after trading near ₹95.25 at the start of the week. A stronger rupee trims the rupee cost of imported scrap slightly, but not enough to change the picture: European shredded scrap was offered around $400–$405/MT CFR Nhava Sheva early this week, roughly ₹37,800–₹38,200/MT before port handling, clearing and inland haulage. Landed, that is above ₹41,000/MT, so most furnaces continue to buy local.
• Crude oil drop: MCX crude fell ₹687 to ₹8,373 per barrel today. Cheaper crude supports the rupee and, if it holds, eases diesel and road-freight costs for long-haul scrap movements.
• DGFT scrap import rules (Public Notice No. 35/2026-27, 21 October 2026): Metallic scrap from the USA, UK, Canada, Australia, New Zealand and the EU can enter without a Pre-Shipment Inspection Certificate through 11 designated seaports, and that exemption now also covers consignments cleared at Inland Container Depots. Each lot still needs a supplier or scrap-yard certificate confirming it is free of radioactive material and explosives, and trans-shipped cargo does not qualify. This follows a difficult few weeks for importers after DGFT withdrew recognition of 15 pre-shipment inspection agencies in September. Smoother ICD clearance helps inland buyers in Punjab, NCR and central India, which over time adds supply.
• EU scrap export restrictions: Under the EU’s revised Waste Shipment Regulation, the European Commission’s draft list (published 18 September) leaves India out for ferrous and non-ferrous scrap. If adopted unchanged, EU recyclers could not ship these grades to India from 21 May 2027. The first approved list is expected around 21 November 2026. India imported roughly 8 million tonnes of ferrous scrap in FY2025-26, and the UK is not covered by the EU rule. If the exclusion stands, Indian buyers would shift towards UK, US and Middle East cargoes, which is structurally supportive for domestic scrap prices from mid-2027.
• Steel safeguard duty stays at 11.5%: The safeguard duty on covered flat steel imports is 11.5% for 21 April 2026 to 20 April 2027, and reports in October indicated the Steel Ministry was not seeking further import curbs. The duty protects HRC and CRC prices, which supports mill margins and, in turn, scrap demand from electric-arc and induction furnaces.
• Sponge iron and pellets: Cheap sponge iron in Raigarh and Rourkela (₹29,100–₹29,200) is capping scrap in the east, but pellet prices rose up to ₹400 today in Raipur and the south. Higher pellet costs feed into sponge prices and should narrow the scrap-to-sponge gap over the coming weeks.

Always magnet-test mixed loads before dispatch: per kilogram, copper is worth more than 35 times iron scrap and aluminium about 9 times. Non-ferrous scrap is priced off the exchange, so start from today’s MCX benchmark below. Copper and aluminium scrap trade at a discount to MCX that depends on grade, purity and how much insulation, paint or iron is mixed in. Send us a photo for a firm quote.

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