Rebar prices in Raipur fell for a third successive day on Wednesday. The daily Davis Index for rebar in Raipur settled at Rs32,900/mt ($461.17/mt) ex-works, down Rs200/mt ($2.8/mt), amidst subdued demand. Trades were limited as buyers adopted a wait-and-see mode, expecting prices to drop further.
The daily index for billet settled unchanged at Rs29,000/mt ($406.5/mt) ex-works Raipur. Pellet sponge prices in Raipur were at Rs18,600-18,700/mt, down by Rs100/mt.
The daily Davis Index for rebar in Mumbai fell by Rs200/mt to settle at Rs34,300/mt ($480.79/mt) ex-works on Wednesday.
Buying activity picked up after prices declined and a few trades were reported at Rs34,200-34,400/mt.
The daily Davis Index for billet in Mumbai fell by Rs200/mt to Rs30,150/mt ($422.62/mt) ex-works. No deals were reported as billet offers were at Rs30,200/mt and bids at Rs30,100/mt.
The daily Davis Index for ingot in Mandi Gobindgarh fell by Rs100/mt to Rs31,150/mt ($436.64/mt) ex-works on a fall in scrap prices by Rs200/mt.
($1= Rs71.34)