The daily Davis Index for 4Ani rose by Rs1,250/mt ($17.11/mt) to Rs33,000/mt ($451.85/mt) ex-Alang amid global cues. Demand picked up which also gave prices a lift.
The daily Davis Indexes for 8Ani and 10Ani rose by Rs1,000/mt each to Rs36,000/mt ex-Alang and Rs36,500/mt ex-Alang, respectively, with limited deals reported at index price.
The daily Davis Indexes for 2kg and 5kg plates rose by Rs850/mt each to Rs33,750/mt ex-Alang and Rs34,750/mt ex-Alang, respectively. Construction activities have slowed down due to severe winter in the North, slightly pressuring demand for finished steel. But in other regions work on projects have gained momentum. A few deals concluded at the index price.
The daily index for HMS attachments and Melting increased by Rs650/mt each to Rs32,450/mt and Rs31,450/mt ex-Alang, respectively. Limited deals were reported as buyers shied away from deals at such high levels.