Indian domestic ferrous scrap prices remained flat on Tuesday as mills remained shut in compliance with the nation-wide lockdown to slow the spread of COVID-19. Domestic scrap collection and segregation activities, as well as unloading of imported ferrous scrap from ports, remained suspended. Only a few truck services were available to ferry material even though the government has asserted that there is no ban on the movement of goods.
The daily Davis Index for HMS 1&2 (80:20) remained unchanged at Rs20,150 ($266.87/mt) del Mandi Gobindgarh. The daily index for sponge iron remained unchanged at Rs20,000/mt del Mandi Gobindgarh.
The bi-weekly index for HMS 1&2 (80:20) remained unchanged at Rs21,000/mt del Chennai and the index for sponge iron remained flat at Rs18,800/mt del Chennai.
Ferrous scrap markets remained closed in Durgapur, Raipur, Hyderabad, Goa, Indore and Ahmedabad, the bi-weekly indexes for HMS 1&2 (80:20) remained unchanged at Rs22,475/mt, Rs 22,050/mt, Rs22,450/mt, Rs21,000/mt, Rs22,200/mt, and Rs23,400/mt, respectively.
In response to a surge in COVID-19 cases, the civic authorities in Mumbai have sealed parts of the city to check the spread of the virus. The daily Davis Index for HMS 1&2 (80:20) and sponge iron remained unchanged at Rs22,450/mt and Rs17,900/mt del Mumbai mills, respectively.
The bi-weekly index for HMS 1&2 (80:20) and sponge iron remained unchanged at Rs21,950/mt and Rs19,750/mt del Jalna, respectively.
($1= Rs75.50)