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

Ingot and billet prices continued to rise in Raipur and Mandi Gobindgarh secondary markets. The daily Davis Index for billet in Raipur rose by Rs300/mt ($4/mt) to Rs41,700/mt ($571/mt) ex-works on Tuesday with moderate trades. Billet deals were heard at Rs41,600/mt in the first half of the day. Sellers pushed offers up thereafter to Rs41,700 ($571/mt). Prices also increased following a rise in Mandi Gobindgarh. 


Pellet sponge prices increased by Rs300/mt to Rs29,700/mt ($406/mt) ex-works Raipur with healthy buying reported on Monday but markets were relatively quiet on Tuesday. The daily index for rebar was up by Rs400/mt ($5/mt) at Rs44,600/mt ($611/mt) ex-works on healthy demand.


In Mumbai, the daily index for billet marginally rose by Rs100/mt to Rs43,400/mt ex-works with few takers. The index for rebar was down by Rs200/mt at Rs48,500/mt ex-works on sluggish demand due to heavy rainfall across Mumbai.


In Mandi Gobindgarh, the daily index for ingot was up by Rs200/mt to Rs44,600/mt ex-works in line with a rise in local scrap prices.


In Chennai, the bi-weekly index for billet and rebar was unchanged at Rs43,000/mt and Rs47,000/mt ex-works on Tuesday compared to last week. Mills informed that rebar demand remained moderate for the week.  Pellet sponge in Bellary was around Rs1,500/mt ($20/mt) lower than Raipur. On Tuesday, Bellary pellet sponge prices were around Rs28,200/mt ex-works.


($1= Rs72.99)

Leave a Reply

Your email address will not be published.