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

The daily Davis Index for HMS 1&2 (80:20) dropped by Rs250/mt ($3.43/mt) to Rs29,200/mt ($401.17/mt) del Mandi Gobindgarh mill as mills exercised caution anticipating a drop in prices.The index for Sponge iron settled flat at Rs25,200/mt del Mandi Gobindgarh mill with limited buying activity. 


The Confederation of All India Traders (CAIT) has decided to observe a shutdown against the anomalies of the Goods and Services Tax (GST) on February 26, which is likely to impact prices. Mills stayed away from making new purchases until a decision on this matter is taken.


In Mumbai, the daily Davis Index for HMS 1&2 (80:20) and Sponge iron settled flat at Rs27,250/mt and Rs24,700/mt del mill, respectively, amid slow demand. 




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