The daily Davis Indexes for 6Ani and 8Ani fell by Rs400/mt ($5.407/mt) each to Rs27,600/mt ($373.10/mt) and Rs28,600/mt ($386.60/mt) ex-Alang, respectively, amid muted demand from re-rollers in Mandi Gobindgarh and Gujarat.
The second wave of Coronavirus outbreak has led to volatility in the market along with changing demand patterns. Mills are buying based on their requirement only amid rising scrap and Sponge iron prices, shipbreakers informed Davis Index.
Among other rolling scrap grades, the daily Davis Indexes for 12Ani and 14Ani dropped by Rs550/mt each to Rs29,350/mt and Rs29,450/mt ex-Alang, respectively, with a few trades concluding at the index price.
The daily Davis Indexes for 2kg plates dropped by Rs450/mt to Rs27,550/mt and for 5kg plate dropped by Rs 500/mt to Rs28,050/mt due to low demand from the construction sector.
The Davis Indexes for HMS attachments fell by Rs200/mt and Melting declined by Rs100/mt each, to Rs27,300/mt and Rs26,400/mt ex-Alang. A few deals concluded at the index prices.