The daily Davis Index for HMS 1&2 (80:20) rose by Rs200/mt ($2.71/mt) to Rs26,500/mt($359.23/mt) del Mandi Gobindgarh mill as buyers preferred to purchase domestic scrap over imported scrap amid rising prices.
Raw material prices continue to remain firm amid acute shortage of iron ore along with supply disruption due to farmers’ agitation in the North. Mills purchased on need-basis. The index for Sponge iron rose by Rs700 to Rs27,950/mt del mill.
In Mumbai, the daily Davis Index for HMS 1&2 (80:20) settled at Rs27,200/mt del Mumbai mill, while the index for Sponge iron fell by Rs200/mt to Rs26,700/mt del mill.