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

The daily Davis Indexes for 8Ani, 10Ani, and 14Ani rose by Rs600/mt($8.16/mt) to Rs33,300/mt ($452.94/mt), Rs33,900/mt ($461.10/mt) and Rs34,400/mt ($467.90/mt) ex-Alang, respectively, as re-rollers from Mandi Gobindgarh and Gujarat continued to purchase material.


The daily Davis Index for 2kg plates rose by Rs550/mt to Rs31,900/mt ex-Alang, and the index for 5kg plates increased by Rs500/mt to Rs32,500/mt ex-Alang, with a few deals reported at the index price.


The daily Davis Index for HMS attachments and Melting rose by Rs500/mt each to Rs31,100/mt and Rs30,100/mt ex-Alang, respectively, largely driven by a rise in imported scrap prices. But at these levels, buyers slowed purchases as they are unsure of the finished steel demand sustaining into Jan 2021. Still, limited trades were reported at the respective index price.




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