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

Melting and HMS attachments prices in Alang’s shipbreaking market were flat on Thursday as re-rolling mills turned silent. The daily Davis Index for HMS attachments and Melting settled unchanged at Rs37,500/mt ($504/mt) and Rs36,500/mt ex-Alang.


The daily Davis Index for 8Ani settled flat at Rs43,400/mt ex-Alang and the index for 10Ani declined by Rs100/mt to Rs43800/mt ex-Alang.


Gujarat-based steelmakers focused on using available inventories for production as they wait for steel demand from the end-users to pick up.


The daily Davis Index for 2kg plates declined by Rs100/mt to Rs40,500/mt ex-Alang, and the index for 5kg plates declined by Rs200/mt to Rs42,200/mt ex-Alang.


Market participants expect demand for finished steel to slow down in September due to Ganpati festivities, keeping ferrous scrap prices rangebound.


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