Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

The daily Davis Index for HMS 1&2 (80:20) remained unchanged at Rs20,150/mt ($264.66/mt) del Mandi Gobindgarh. The daily index for sponge iron was also flat at Rs20,000/mt del Mandi Gobindgarh. 


Indian ports are working to simplify processes and have exempted importers from the mandate of producing physical copies of documentation. Secondary mills in Mandi and Mumbai using induction and electric arc furnaces for melting have stopped production. A few blast furnaces continued production at reduced levels.


In Maharashtra, the cases of COVID-19 continued to surge crossing the 750 mark. With over half of the cases recorded in Mumbai, the local government has began sealing off parts of the city. The daily index for HMS 1&2 (80:20) settled flat at Rs22,450/mt del Mumbai mills and the index for sponge iron settled at Rs17,900/mt del Mumbai mills, also flat. 

($1= Rs76.13)


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