The daily Davis Indexes for 10Ani, 12Ani and 14Ani rose by Rs150/mt($2.033/mt) each to Rs34,050/mt ($461.6/mt) ex-Alang, Rs34,450/mt ($467.03/mt) ex-Alang and Rs34,550/mt ($468.29/mt) ex-Alang, respectively amid moderate demand from the re-rollers in Mandi Gobindgarh and Gujarat.
Among other rolling scrap grades, the daily Davis Indexes for 1kg and 2kg plates dropped marginally by Rs50/mt each to Rs31,050/mt and Rs31,850/mt ex-Alang, respectively, while the index for 5kg plates rose by Rs250/mt to Rs32,750/mt ex-Alang with deals reported at the index price.
The daily Davis Index for HMS attachments and Melting dropped by Rs100/mt each to Rs31,100/mt ex-Alang and Rs30,100/mt ex-Alang, respectively, as shipbreakers reduced offers amid rising imported scrap prices as well as weak demand for finished steel. Buyers have adopted a wait-and-watch approach.
($1=Rs73.77)