The daily Davis Index for rebar in Raipur remained unchanged at Rs31,200/mt ($413.84/mt) ex-works. The daily index for billet settled at Rs26,500/mt ($351.50/mt) ex-works Raipur, also flat. Secondary mills across India are unlikely to reopen till April 14 at the minimum.
Mills in Raipur have appealed the state government to waive off their power tariff charges in the lockdown period to lighten their financial burden.
In Mumbai the daily index for rebar also remained unchanged and settled at Rs33,400/mt ($443.02/mt) ex-works, with no trades. The daily Davis Index for billet settled flat at Rs28,700/mt ($380.68/mt) ex-works Mumbai.Traders in Mumbai believe trades will return to usual levels only after the end of April. Supply change which remains severely hampered may take around two weeks to regularise after the lockdown period ends.
In Mandi Gobindgarh, the daily index for ingot remained unchanged at Rs29,800/mt ($395.27/mt) ex-works.
($1= Rs75.39)