The daily Davis Indexes for HMS 1&2 (80:20) and Sponge in Mandi Gobindgarh rose by Rs500/mt ($6.74/mt) each to Rs25,500/mt ($343.83/mt) and 27,500/mt ($370.80/mt) del mill, respectively, amid rise in demand as well as shortfall of iron ore in the domestic market causing a spike in the cost of steel production.

 

In Mumbai, the daily Davis Index for HMS 1&2 (80:20) settled flat at Rs25,500/mt ($341.83/mt) del mill. The index for Sponge iron rose by Rs150/mt to Rs26,000/mt del mill. Mills continue to take a cautious approach before purchasing. 

 

($1=Rs74.132)

 

 

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