Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Ingot and billet prices decreased due to moderate buying on Monday. The daily Davis Index for billet in Raipur decreased by Rs200/mt ($3/mt) to Rs41,400/mt ($564/mt) ex-works on limited deals. Steel mills reported poor demand for finished steel including rebar since last 2-3 days in domestic market. Billets buyers are also reluctant due to higher prices.


On Monday, JSW Steel increased HRC prices by Rs4000/mt ($55/mt), and rebar and wire rod by Rs3,000/mt ($74/mt) each for April deliveries.


Besides, restriction imposed by various state governments to control the COVID-19 cases may also impact demand to some extent in the near term.


Pellet Sponge offers increased to 30,000/mt ($402/mt) ex-works Raipur which is an all-time high. The daily index for rebar remained unchanged at Rs45,000/mt ($613/mt) ex-works Raipur.


In Mumbai, the index for billet and rebar remained unchanged at Rs43,000/mt and Rs47,900/mt ex -works, respectively.


In Mandi Gobindgarh, the index for ingot marginally increased by Rs100/mt to Rs41,900/mt.



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