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

Shipbreaking scrap prices in Alang remained mixed amid scrap shortage. The daily Davis Indexes for 4Ani, 6Ani and 8Ani fell by Rs50/mt ($0.669/mt) each to Rs25,950/mt ($347.4/mt), Rs26,950/mt ($360.8/mt) and Rs27,950/mt ex-Alang ($374.28/mt), respectively.


The daily Davis Index for 10Ani remained unchanged at Rs28,550/mt ex-Alang, while the index for 12Ani and 14Ani rose by Rs150/mt and Rs50/mt, respectively, to settle at Rs28,850/mt ex-Alang. A few deals concluded at the index price.


The daily Davis Indexes for 2kg and 5kg plates rose by Rs50/mt to Rs26,750/mt, Rs27,750/mt ex-Alang, respectively, amid a steady increase in demand from construction sector, with trades concluding at the Index price.


The daily Davis Index for HMS attachments and Melting dropped by Rs150/mt each to Rs25,300/mt and Rs24,300/mt, respectively, amid weak demand for finished steel and rise in imported scrap prices. The Indian currency depreciated to Rs74.69 against the US dollar which could impact trades.





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