Steel semis markets stopped trade amid an expected move by the Indian government to impose a nation-wide lockdown for 21 days on Tuesday. India’s Prime Minister appealed to the masses to stay at home to control the spread of COVID-19.
The daily Davis Index for rebar in Raipur remained unchanged at Rs31,200/mt ($410.41/mt) ex-works. All secondary producers, as well as integrated mills in the region have suspended operations till the situation is normalised or until such time that government authorities issue any particular directives.
In Mumbai, which is under a lockdown since the beginning of the week, the daily index for rebar remained unchanged at Rs33,400/mt ($439.35/mt). In Mandi Gobindgarh, the daily index for ingot remain unchanged at Rs29,800/mt ($392/mt) ex-works.