The daily Davis Index for rebar in Mumbai settled unchanged at Rs34,900/mt ($488.38/mt) ex-works on Friday. Trades were limited in the market.
The daily Davis Index for billet in Mumbai fell marginally by Rs100/mt ($1.39/mt) to Rs31,050/mt ($434.5mt) ex-works. Billet offers were at Rs31,100/mt but no buyers were keen to trade at those levels.
The daily Davis Index for rebar in Raipur settled at Rs33,300/mt ($465.99/mt) ex- works also remained unchanged amid weak demand.
The daily index for billet increased by Rs200/mt ($2.79/mt) settled at Rs29,850/mt ($.417.71/mt) ex-works Raipur as pellet sponge and ferrous scrap prices increased. Pellet sponge prices in Raipur were at Rs19,400-19,500/mt and end cutting prices were at Rs25,500-25,700/mt, both up by Rs200-300/mt from the prior day.
The daily Davis Index for ingot fell by Rs100/mt to Rs31,950/mt ($438.07/mt) ex-works, Mandi Gobindgarh.