The daily Davis Index for rebar settled at Rs36,200/mt ($506.36/mt) ex-works Mumbai on Monday, unchanged from Friday.
A rebar trader based in Mumbai cited weak demand on the back of the real estate sector struggling to launch new projects amid liquidity crunch.
The daily Davis Index for billet in Mumbai fell marginally by Rs100/mt to Rs32,050/mt ($448.31/mt) ex-works. Billet offers were at Rs32,100/mt, but no buyers responded.
The daily Davis Index for ingot at Mandi Gobindgarh marginally decreased by Rs100/mt to Rs32,250/mt ($451.11/mt) ex-works on Monday, as compared to last Friday.
The daily Davis Index for rebar in Raipur marginally increased by Rs100/mt ($1.39/mt) on Monday to Rs33,800/mt ($472.79/mt) ex-works, compared to last week as billet and pellet sponge prices remained firm.
The daily index for billet settled at Rs29,950/mt ($406.35/mt) ex-works Raipur, on Monday, an increase by Rs50/mt ($0.69/mt).
Pellet Sponge prices in Raipur were at Rs19,400-19,500/mt, unchanged from Friday.