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

Billet prices surged in Raipur and Mumbai amid healthy demand and tight supply.


The daily Davis Index for billet in Raipur surged by Rs800/mt ($11/mt) to Rs39,000/mt ($538/mt) ex-works on healthy demand from re-rolling mills. Limited availability of material along with firm Sponge prices supported prices.


Secondary steel mills are gearing for positive demand post-Holi with prices expected to increase for flat products by Rs2,000-3,000/mt ($28-41/mt) and rebar by Rs1,000/mt ($14/mt) in early April.


Pellet Sponge offers increased by Rs200/mt ($3/mt) to Rs27,500/mt ($379/mt) ex-works Raipur with limited takers. The daily index for rebar also increased by Rs500/mt ($7/mt) to Rs42,700/mt ($589/mt) ex-works Raipur on good bookings before the price increased.


In Mumbai, the index for billet surged by Rs800/mt to Rs40,800/mt with some deal reported at index price. The index for rebar increased by Rs400/mt to Rs46,400/mt ex-works.





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