Indian domestic ferrous scrap prices remained unchanged on Wednesday as markets remained closed. 

The Punjab state government, on Wednesday has announced the extension of lockdown by two weeks as  COVID-19 cases are yet to reduce.The daily Davis Index for HMS 1&2 (80:20) remained unchanged at Rs20,150/mt ($266.26/mt) del Mandi Gobindgarh. The daily index for sponge iron remained flat at Rs20,000/mt del Mandi Gobindgarh. 


Shipbreaking yards in Alang, Gujrat have resumed operations. Inventories are slowly piling up amid sluggish demand in the market. A deal for HMS 1&2 (80:20) was heard at Rs22,000/mt to 22,500/mt ex-Alang. 

In Mumbai, the daily index for HMS 1&2 (80:20) settled flat at Rs22,450/mt del mills and the index for sponge iron remained unchanged Rs17,900/mt del mills. 

($1 = Rs75.67)


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