Ingot and billet prices in India stayed flat on Tuesday in Central and East markets, while ingot prices in Mandi increased slightly.
The daily Davis Index for billet in Raipur settled flat at Rs40,700/mt ($546/mt) ex-works on Tuesday. Re-rollers in Raipur preferred to buy billet from Raigarh amid competitive pricing. Some billet deals from Raigarh reported at Rs40,700/mt delivered Raipur.
Pellet sponge offers continue to stay flat at Rs29,000/mt ($389/mt) ex-works Raipur with limited takers. The daily index for rebar dipped by Rs100/mt to Rs43,500/mt ($584/mt) ex-works Raipur. Mills in Raipur are selling rebar at a discount to encourage sales.
In Mumbai, the daily index for billet flat at Rs41,200/mt, while billet offers stayed at Rs41,300/mt and bid at Rs41,100/mt. The index for rebar has remained unchanged at Rs45,800/mt since June 28.
In Mandi Gobindgarh, the daily index for ingot was up Rs400/mt at Rs43,000/mt ex-works, which was at par with local scrap prices.
In Jalna, the bi-weekly index for billet has remained flat at Rs41,000/mt ex-works since July 1. While, the bi-weekly index for rebar decreased Rs300/mt to Rs45,700/mt ex-works, with healthy sales at lower prices.
In Durgapur, the bi-weekly indexes for billet and rebar, Tuesday, remained unchanged at Rs40,500/mt and Rs43,200/mt, respectively, from last Thursday.