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

Demand for billet and rebar picked up as construction activities have started gathering steam, lifting prices across the country. 

The daily Davis Index for billet in Raipur surged by Rs1,000/mt ($14/mt) to Rs36,700/mt ($504/mt) ex-works on Wednesday due to robust demand from rolling mills.


The index for rebar also surged by Rs1,000/mt and settled at Rs41,000/mt ($563/mt) ex-works Raipur with healthy demand coming in from the infra projects. A steel mill operator said that this is the peak time for construction activities which lasts two months.


Pellet Sponge iron offers rose to Rs24,700-24,800/mt ($339-341/mt) ex-works which supported ingot, billet and rebar prices as well. Some Sponge deals were also heard at Rs24,300-24,500/mt. 


In Mumbai, the daily index for billet increased by Rs800/mt at Rs39,000/mt and index for rebar increased by Rs700/mt at Rs43,300/mt ex-works Mumbai amid healthy rebar sales.


In Mandi Gobindgarh, the daily index for ingot rose by Rs700/mt to settle at Rs38,600/mt amid rise in local scrap and finished steel prices.



Leave a Reply

Your email address will not be published.