Indian domestic ferrous scrap prices remained unchanged on Tuesday as the lockdown until April 14 continues.
The daily Davis Index for HMS 1&2 (80:20) remained unchanged at Rs20,150/mt ($266.86/mt) del Mandi Gobindgarh. The daily index for sponge iron remained unchanged at Rs20,000/mt del Mandi Gobindgarh.
The central government has issued a circular, permitting mills in Punjab to operate by making suitable lodging and sanitation arrangements for their workforce inside plant premises. Still, mills are unable to function as labourers have left for their hometowns before the announcement of complete lockdown.
The bi-weekly index for HMS 1&2 (80:20) remained unchanged at Rs21,000/mt del Chennai and the index for sponge iron remained flat at Rs18,800/mt del Chennai. The indexes for HMS 1&2 (80:20) in other regions like Durgapur, Raipur, Hyderabad, Goa, Indore and Ahmedabad settled at Rs22,475/mt, Rs22,050/mt, Rs22,450/mt, Rs21,000/mt, Rs22,200/mt and Rs23,400/mt, respectively, also flat.
In the state of Maharashtra, Mumbai has the maximum number of COVID-19 cases. Directions have been issued by state authorities to seal district and state borders restricting transport within and outside the state.
The daily Davis Index for HMS 1&2 (80:20) and sponge iron settled unchanged at Rs22,450/mt and Rs17,900/mt del Mumbai mills, respectively. The bi-weekly index for HMS 1&2 (80:20) and sponge iron remained unchanged at Rs21,950/mt and Rs19,750/mt del Jalna, respectively.
($1= Rs75.50)