The daily Davis index for 8Ani dropped by Rs150/mt ($2.04/mt) to Rs35,400/mt ($481.86/mt) ex-Alang due to low demand for rolling scrap. Despite low availability of domestic scrap, mills in Mandi Gobindgarh and Gujarat stayed away from shipbreaking scrap.
The indexes for 2kg and 5kg plates remained unchanged at Rs33,500/mt and Rs34,500/mt ex-Alang, respectively. Only limited tonnages were sold on Tuesday with buyers unwilling to accept current price levels. But recyclers were unwilling to lower offers amid strong global cues.
The daily Davis Indexes for HMS attachment and Melting also settled flat at Rs32,800/mt and Rs31,800/mt ex-Alang, respectively, amid limited deals.