The daily Davis Index for HMS 1&2 (80:20) rose by Rs100/mt ($1.359/mt) to Rs26,600/mt($361.56/mt) del Mandi Gobindgarh mill amid shortage of domestic scrap, with limited trades reported at index price.
Sponge iron prices continue to rise amid iron ore shortage and therefore, mills preferred scrap over Sponge. The index for Sponge iron rose by Rs200 to Rs28,150/mt del mill. No trades were reported at these levels.
In Mumbai, the daily Davis Index for HMS 1&2 (80:20) settled flat at Rs27,000/mt del mill, while the index for Sponge iron fell by Rs300/mt to Rs26,500/mt del mill.