The daily Davis Index for 4Ani rose by Rs200/mt ($2.74/mt) to Rs30,000/mt ($410.36/mt) ex-Alang on Thursday with demand registering an uptick from a few rolling mills in Mandi Gobindgarh and Gujarat. Some mills are preferring rolling scrap over billets.
The daily Davis Indexes for 0.5kg and 1kg plates decreased by Rs150/mt each to Rs29,000/mt and Rs28,900/mt ex-Alang, respectively, amid limited activity. The pace of construction activities has slowed as most contractors are unable to keep up with the rising finished steel prices.
The daily index for HMS attachments and Melting declined by Rs250/mt each to Rs28,800/mt and Rs27,800/mt ex-Alang, respectively, amid slow demand for finished steel.
($1=Rs73.10)