Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Billet suppliers continue to keep billet offers firm in Raipur but prices dipped in Mumbai on Monday. 


The daily Davis Index for billet in Raipur remained unchanged at Rs43,800/mt ($598/mt) ex-works on Monday from Friday despite limited buying activities. Billet suppliers continued to keep offers high, but re-rolling mills were not interested, looking at moderate demand of finished products due to lockdowns in India. 


Mills noted that demand is a downtrend, though dispatches are going on at around 60-70pc. They feel that domestic steel prices seem to be supportive in the near term due to strong export demand. 


Offers for pellet sponge iron stood at Rs31,500/mt ($427/mt) ex-works but with limited takers. The daily index for rebar was down by Rs1,000/mt ($14/mt) to Rs48,000/mt ($657/mt) ex-works Raipur on sluggish demand.


In Mumbai, the index for billet decreased by Rs800/mt to 45,000/mt following a fall in rebar and scarp prices. The index for rebar was down by Rs300/mt to Rs51,000/mt ex-works.


In Mandi Gobindgarh, the daily index for ingot was up by Rs500/mt Rs46,600/mt ex-works owing to rise in local scrap prices.



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