Indian domestic ferrous scrap prices were flat for yet another day with markets locked down. Mills in non-COVID-19 hotspots have been given permissions to commence work which could support demand in the coming days.
The daily Davis Index for HMS 1&2 (80:20) remained unchanged at Rs20,150/mt ($262.39/mt) delivered Mandi Gobindgarh. The daily index for sponge iron remained flat at Rs20,000/mt delivered Mandi Gobindgarh.
Restrictions in cities like Mumbai and Pune remain stringent as the number of new cases continues to surge. Production in the auto hub Pune, therefore, remains shut. Unavailability of labour and near-zero demand for automobiles has also added to automakers’ woes.
In Mumbai, the daily index for HMS 1&2 (80:20) settled flat at Rs22,450/mt delivered mills and the index for sponge iron remained unchanged Rs17,900/mt delivered mills.
($1 = Rs76.79)