The daily Davis Index for 10Ani rose by Rs600/mt ($8.19/mt) to Rs35,600/mt ex-Alang ($486.41/mt) as the demand from rolling mills in Mandi Gobindgarh and Gujarat picked up on Tuesday evening.
However, on Wednesday, shipbreakers faced sluggish demand ahead of the Makar Sankranti holiday on January 14. Market activity is likely to gain momentum after the festival.
The daily indexes for 12Ani and 14Ani increased by Rs550/mt each to Rs36,050/mt ex-Alang and Rs346,100/mt ex-Alang.
The daily Davis Index for 2kg plates rose by Rs550/mt to Rs32,300/mt ex-Alang with deals reported at index price.
The daily indexes for HMS attachments and Melting increased by Rs500/mt each to Rs30,800/mt and Rs29,800/mt ex-Alang, respectively, as buyers actively booked material ahead of the festival..