The daily Davis Index for 8Ani fell by Rs650/mt ($8.81/mt) to Rs32,450/mt ($439.97/mt) ex-Alang and the index for 10Ani declined by Rs600/mt ($8.13/mt) to Rs32,950/mt ($446.71/mt) ex-Alang amid subdued demand from rolling mills in Mandi Gobindgarh and Gujarat. Steel mills await revival of finished steel demand.
Among other rolling scrap grades, the daily Davis Indexes for 2kg and 5kg plates dropped by Rs550/mt each to Rs30,900/mt ex-Alang and Rs31,900/mt ex-Alang. Limited trades were reported on the index price.
The daily Davis Index for HMS attachments and Melting dropped by Rs400/mt each to Rs30,300/mt ex-Alang and Rs29,300/mt ex-Alang, respectively, with a few deals concluded at the index price. Buyers’ sentiments are low as they wait for market conditions to improve.