Mills are staring at stockpiled inventory amid rising domestic as well as imported scrap prices. Trades thinned as mills purchased in staggered manner. The daily Davis Index for HMS 1&2 (80:20) on Wednesday rose by Rs100/mt ($1.353/mt) to Rs24,300/mt ($328.78/mt) del Mandi Gobindgarh mill. The index for Sponge iron increased by Rs250/mt to Rs27,400/mt with few buyers at the index price.

 

In Mumbai, the daily Davis Index for HMS 1&2 (80:20) rose by Rs100/mt to Rs25,200/mt del mill. The index for Sponge iron rose by Rs550/mt to Rs26,150/mt del mill amid acute shortage of iron ore.

 

($1=Rs73.90)

 

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