The daily Davis Indexes for 8Ani and 10Ani rose by Rs550/mt($7.48/mt) each to Rs32,700/mt ($445.28/mt) ex-Alang and Rs33,300/mt ($453.45/mt) ex-Alang, respectively. The demand from re-rollers in Mandi Gobindgarh and Gujarat remained low amid weak demand for finished steel and scrap.
Among other rolling scrap grades, the daily Davis Indexes for 0.5kg and 1kg plates rose by Rs600/mt each to Rs30,750/mt and Rs30,650/mt, ex-Alang, respectively, with a few deals reported at the index price.
The daily Davis Index for HMS attachments and Melting rose by Rs600/mt each to Rs30,600/mt and Rs29,600/mt ex-Alang, respectively, amid rising imported scrap prices coupled with weak finished steel demand. Limited buying was reported at the index price.
A deal for ‘Asphalt alliance’ with tonnage 2384.91/ldt concluded at $323/ldt.