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

Shipbreaking scrap prices rose amid firm demand from the local rolling mills. The Davis indexes for HMS attachments and Melting, Monday, increased by Rs1,100/mt ($14.74/mt) each to Rs36,000/mt and Rs35,000/mt ex-Alang, respectively.


Shipbreakers increased re-rolling scrap offers amid tight supply. The daily Davis Index for 4Ani rose by Rs900/mt to Rs39,700/mt ex-Alang and the index for 6Ani rose by Rs500/mt to Rs40,700/mt ex-Alang.


Demand for TMT in Maharashtra has picked up after a long break. Mills are trying to stock their raw material inventories for immediate melt requirements ahead of the monsoon.


The index for 10Ani rose by Rs600/mt to Rs42,300/mt ex-Alang, and the index for 14Ani rose by Rs400/mt to Rs42400/mt ex-Alang.


Ship plate prices also rose in line with re-rolling scrap prices. The index for 1kg plates rose by Rs200/mt to Rs36,200/mt ex-Alang, and the index for 5kg plates rose by Rs700/mt to Rs41,300/mt ex-Alang.


Most market participants are still adopting a wait-and-watch strategy, while traders believe ferrous scrap prices could come under pressure as the monsoon intensifies.



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