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

Ingot and billet prices improved in Mumbai. In Raipur, however, prices remained under pressure.

The daily Davis Index for billet in Mumbai was up by Rs200/mt ($3/mt) to Rs41,200/mt ($552/mt) ex-works on Wednesday amid an increase in demand. The index for rebar also rose by Rs200/mt to Rs46,000/mt ($616/mt) ex-works Mumbai on improved sales.


In Raipur, the daily index for billet fell by Rs100/mt to Rs40,600/mt ex-works. Participants, however, believe prices are unlikely to decrease any further.


Pellet sponge offers stayed flat at Rs29,000/mt ($389/mt) ex-works Raipur amid limited takers. The index for rebar was down by Rs200/mt to Rs42,200/mt ex-works as sales are still sluggish.


In Mandi Gobindgarh, the daily index for ingot was down by Rs200/mt at Rs43,000/mt ex-works due to a decline of a similar amount in local scrap prices.


($1= Rs74.61)

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