The daily indices for rebar in Raipur and Mumbai were flat at Rs32,900/mt ($461/mt) and Rs34,300/mt ($481/mt) ex-works, respectively, on weak demand for finished steel.
The daily index for billet in Raipur settled at Rs28,800/mt ex-works, down by Rs200/mt from the day prior. The prices declined with a fall in pellet sponge iron prices.
Pellet sponge prices in Raipur settled at Rs18,500/mt, lower by Rs100-200/mt from Wednesday.
The daily Davis Index for billets in Mumbai remained flat at Rs30,150/mt ($435.3/mt) ex-works on increased import scrap prices.
Prime steel manufacturers exporting material at a premium are inflating finished steel prices, forcing domestic manufacturers to raise prices despite low demand, Mandi manufacturers said.
The daily Davis Index for ingots fell by Rs100/mt to Rs31,050/mt ex-works, Mandi Gobindgarh.