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

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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