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

In Mandi Gobindgarh, the daily Davis Index for HMS 1&2 (80:20) rose by Rs525/mt ($7.19/mt) to Rs31,275/mt ($428.67/mt) del mill amid supply shortage in the domestic market. 

 

Rising prices have prevented traders in Mandi Gobindgarh to go for imported scrap. The daily index for P&S rose by Rs700/mt to Rs32,700/mt while the index for Sponge iron settled flat at Rs27,600/mt del mill. Limited deals were reported as buyers found the prices unviable.

 

In Mumbai, the daily Davis Index for HMS 1&2 (80:20) and Sponge iron settled flat at Rs28,000/mt and Rs26,600/mt del mill, respectively, with thin trades. The mills indicated uncertainty over price direction. 
 

($1=Rs72.95)

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