The daily Davis Index for 4Ani dropped by Rs150/mt ($2.03/mt) to Rs28,500/mt ($386.60/mt) ex-Alang as recyclers reduced offers amid slow demand from re-rollers in Mandi Gobindgarh and Gujarat.
The daily Davis Index for 6Ani and 8Ani rose by Rs100/mt and Rs50/mt to Rs28,850/mt ex-Alang and Rs29,700/mt ex-Alang, respectively.
Among other rolling scrap grades, the daily Davis Index for 5kg plates rose by Rs150/mt to Rs29,350/mt ex-Alang aided by healthy demand from construction and infrastructure sector.
Since mills have already stocked material, they are now in a wait-and-watch mode anticipating a rise in demand from the end-users. The mills are likely to start purchasing by the end of this week as they foresee scrap prices to rise further. The daily Davis Index for HMS attachments and Melting dropped by Rs100/mt each to Rs28,600/mt and Rs27,600/mt, ex-Alang, respectively.