The daily index for 12Ani rose by Rs650/mt ($8.92/mt) to Rs33,250/mt ($456.31/mt) ex-Alang amid improved demand from the rolling mills in Mandi Gobindgarh and Gujarat, with limited deals . Mills are cautiously buying amid uncertainty over price direction.
The daily indexes for 0.5kg and 1kg plates increased by Rs700/mt to Rs28,250/mt and Rs29,850/mt, ex-Alang, respectively. Shipbreakers are waiting for funding for government infrastructure projects to kick-in, which will boost consumption of finished steel.
The daily Davis Index for HMS attachment and Melting rose by Rs550/mt each to Rs28,050/mt and Rs27,050 ex-Alang, respectively with few deals reported at the current price levels.