The daily Davis Index for rebar in Raipur fell by Rs200/mt ($2.79/mt) on Friday to settle at Rs33,400/mt ($464.40/mt) ex-works. Trades were thin today on the back of regional holiday of Mahashivratri.
The demand from infrastructure, residential, commercial and industrial sector is likely to pick up giving rebar prices a lift.
The daily index for billet remained unchanged at Rs29,000/mt ($403.22/mt) ex-works Raipur. Pellet prices also were flat at Rs18,500-18,600/mt.
The daily Davis Index for ingot in Mandi Gobindgarh was unchanged at Rs31,550/mt ($438.68/mt) ex-works.
Indian domestic ferrous scrap markets were quiet on Friday. The daily Davis Index for HMS 1&2 (80:20) in Mumbai settled unchanged at Rs23,050/mt del mills. The index for HMS 1&2 (80:20) settled at Rs22,100/mt del Mandi Gobindgarh.