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

Ingot and billet prices declined in Raipur and Mandi Gobindgarh markets due to limited buying. Primary mills could raise rebar prices by Rs2,000/mt ($27/mt) for August deliveries.


The daily Davis Index for billet in Raipur fell by Rs200/mt ($3/mt) to Rs43,300/mt ($584/mt) ex-works on Tuesday.


Some billet deals were heard at Rs43,500/mt on Monday. Suppliers were unwilling to reduce asking prices due to a surge in the price of sponge iron. Buyers lowered bids as prices in Mandi Gobindgarh declined.


Pellet sponge prices were at Rs30,700/mt ($411/mt) ex-works Raipur. The daily index for rebar remained unchanged at Rs45,200/mt ($609/mt) ex-works Raipur.


In Mumbai, the daily index for billet was flat at Rs45,200/mt. The index for rebar was up Rs100/mt at Rs49,300/mt ex-works. In Jalna, the bi-weekly index for billet was flat at Rs45,200/mt ex-works from last Thursday.


In Mandi Gobindgarh, the daily index for ingot declined Rs300/mt to Rs45,800/mt ex-works.

($1= Rs74.25)

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