The daily Davis Indexes for 4Ani, 6Ani and 8Ani dropped by Rs50/mt ($0.6774/mt) each to Rs27,450/mt ($371.91/mt), Rs27,850/mt ($377.33/mt) and Rs28,750/mt ($389.53/mt) ex-Alang, respectively, amid weak demand from rolling mills in Mandi Gobindgarh and Gujarat.
Among other rolling scrap grades, the daily Davis Indexes for 10Ani, 12Ani and 14Ani dropped by Rs100/mt each to Rs29,200/mt, Rs29,600/mt and Rs29,700/mt ex-Alang, respectively. A few trades concluded at the index price.
The shipbreakers have reduced offers to clear their inventory. The daily Davis Indexes for 2kg and 5kg plates reduced by Rs100/mt each to Rs27,700/mt, Rs28,200/mt ex-Alang, respectively.
The Davis Indexes for HMS attachments and Melting remained unchanged at Rs27,400/mt and Rs26,500/mt ex-Alang. A few trades were heard at the index price. The mills, however, expect the prices to rise in the coming week.