The daily Davis Indexes for 4Ani and 6Ani fell by Rs500/mt ($6.74/mt) each to Rs27,500/mt ($371.18/mt), and Rs28,000/mt ($377.93/mt) ex-Alang, respectively amid weak demand from the rolling mills in Mandi Gobindgarh and Gujarat.
The indexes for 8Ani and 12Ani also fell by Rs 500/mt each to settle at Rs29,000/mt ($391.45/mt) and Rs29,900/mt ($403.60/mt) ex-Alang, respectively.
Mills are shying away from new purchases due to rise in domestic and imported scrap prices. Among other rolling scrap grades, the daily Davis Index for 10Ani dropped by Rs600/mt to Rs29,500/mt ex-Alang with a few trades reported at the index price.
The daily Davis Indexes for 1kg and 2kg plates dropped by Rs450/mt each to Rs27,450/mt and Rs28,000/mt, respectively, amid sluggish demand from the construction sector.
The Davis Indexes for HMS attachments and Melting declined by Rs500/mt each to Rs27,500/mt and Rs26,500/mt ex-Alang, respectively. A few deals concluded at the index prices.