en.Wedoany.com Reported - As of June 10, 2026, iron oxide scrap prices in major domestic markets in India showed an overall downward trend, primarily driven by low buyer interest, declining export feasibility, and softening global iron ore sentiment.
According to the latest BigMint assessment, compared to June 6, the price of Fe 69% iron oxide scrap at Kandla Port saw the largest decline, falling by INR 550/tonne ($6/tonne) to INR 8,050/tonne ($84/tonne) DAP. During the same period, Raipur prices dropped by INR 50/tonne ($0.5/tonne) to INR 7,000/tonne ($73/tonne) ex-works, while Jalna prices also fell by INR 50/tonne ($0.5/tonne) compared to the June 3 assessment, to INR 6,500/tonne ($68/tonne) ex-works.
Weak export demand led to a sharp decline in the Kandla market. Buyer interest from exporters remained sluggish, and the recent drop in the global Fe 61% iron ore fines index prompted exporters to lower procurement bids and reassess inventory positions. On June 9, spot prices for iron ore fines (Fe 61%) fell by $4/dry metric tonne week-on-week to $101/dry metric tonne CFR China. After prices hit a more than three-month low, a modest technical rebound occurred, mainly due to a lack of new developments. Market participants noted that weak export realizations and limited vessel availability further dampened trade sentiment. According to market sources, exporters currently hold ample inventories, reducing the urgency for new purchases. As a result, materials typically flowing into export channels are expected to be increasingly absorbed by domestic consumers in the coming weeks. One market participant indicated that buyer inquiries in the export market remain tight, while exporters have sufficient stock, leading to significant declines in domestic offers. Another trader observed that despite lowered offers, sellers' general market expectations remain above INR 8,400/tonne DAP. Trading activity remained limited during the assessment period, with logistical challenges and freight-related issues restricting flows from surrounding markets to Gandhidham. No major transactions were reported during the publishing window.
In Raipur, iron oxide scrap prices continued to soften as transactions were concluded at lower levels due to cautious buyer activity and subdued end-user demand. Market participants reported that despite reduced offers, multiple suppliers struggled to close sales, reflecting weak purchasing intent and ample market supply. The lack of bulk buying further dampened market sentiment, with liquidity remaining low throughout the week. During the assessment period, approximately 1,800 tonnes of iron oxide scrap were traded at a price range of INR 7,000-7,300/tonne ($73-77/tonne) ex-works.
Jalna prices recorded a slight decline but remained relatively stable compared to other regions. Participants noted that local demand and a modest recovery in downstream steel prices provided some support, preventing a sharper correction despite the weakness in the Kandla market. Offers for Fe 69% iron oxide scrap were mainly quoted at INR 6,400-6,600/tonne ex-works. Trading activity remained moderate, primarily driven by local shipments, while arbitrage opportunities for material from Jalna to Kandla have largely disappeared following the significant correction in the western market. Market participants expect some bulk purchasing activity ahead of the monsoon season, which could help sustain a degree of market participation. During the assessment period, approximately 2,500 tonnes of iron oxide scrap were transacted at around INR 6,500/tonne ($68/tonne) ex-works.
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