In Mumbai, the daily Davis Index for HMS 1&2 (80:20) remained unchanged at Rs28,000/mt ($386.21/mt) del mill amid sluggish demand for finished steel. The index for Sponge iron dropped marginally by Rs200/mt to Rs26,300/mt del mill. Sponge prices are likely to remain under pressure in tandem with other grades. Limited buying was reported at these levels.
In Mandi Gobindgarh, the daily Davis Index for HMS 1&2 (80:20) and Sponge iron settled flat at Rs32,550/mt and Rs28,600/mt del mill, respectively, as trades came to a halt amid the ongoing traders’ protest against GST documentation issues.