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

Indian domestic ferrous scrap prices rose on Friday due to shortage of material. With a rise in scrap prices, mills raised their offers for finished and semi-finished steel.


In Mandi Gobindgarh, the daily Davis Index for HMS 1&2 (80:20) increased by Rs 400/mt ($5.29/mt) to Rs21,400/mt ($283.11/mt) del mills. The daily index for sponge iron remained unchanged at Rs20,200/mt delivered mills.

A gradual resumption in construction activity compared to near-zero activity for the last couple of months, however, could give a slight push to finished steel demand.


In Mumbai, markets have resumed operations with the Maharashtra government relaxing some restrictions. The daily index for HMS 1&2 (80:20) increased by Rs150/mt to Rs21,200/mt delivered mills. Few trades were reported at the index price. The index for sponge iron remained unchanged at Rs16,900/mt delivered mills.


($1= Rs 75.58) 

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