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

Shipbreaking scrap prices rose amid increased offers from the suppliers. Demand for raw material from the rolling mills remained firm as end-users are forcing mills to dispatch their goods before the festival of Holi oon March 29.


Mills previously followed a wait-and-watch strategy and were buying raw material on need basis.


The daily Davis Index for 4Ani rose by Rs500/mt ($6.90/mt) to Rs32,500/mt ex-Alang and the index for 6Ani rose by Rs400/mt to Rs33,000/mt ex-Alang.


Shortage of material at the yards as well as low availability of laborers has slowed down the production in Alang. The index for 14Ani rose by Rs300/mt to Rs36,200/mt ex-Alang.


The index for 1kg plates rose by Rs500/mt to Rs32,000/mt ex-Alang, and the index for 2kg plates rose by Rs300/mt to Rs32,700/mt ex-Alang.


Traders are still waiting for a clear price direction and few of them are expecting raw material prices to rise further post-Holi.


The daily Davis Index for HMS attachments and Melting rose by Rs500/mt each to Rs31,800/mt and Rs30,800/mt ex-Alang,  respectively.


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