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

Ingot, billet prices fell in most secondary markets, but trades improved at lower prices. Most secondary rebar producers in Mumbai are witnessing a bearish market due to moderate finished steel demand.


The daily Davis Index for billet in Raipur declined by Rs550/mt ($7/mt) at Rs42,600/mt ($574/mt) ex-works on Monday from Friday. A few billet deals were reported after sellers accepted lower bids. A marginal recovery was seen in markets in mandi Gobindgarh, post which, buyers turned active in Central India.


Pellet sponge prices remained at Rs31,000/mt ($417/mt) ex-works Raipur with hardly any trades at higher prices. The daily index for rebar declined by Rs500/mt at Rs44,700/mt ($602/mt) ex-works Raipur on sluggish demand. 


In Mumbai, the daily index for billet declined by Rs900/mt at Rs44,350/mt following a slump in rebar and local scrap prices. The index for rebar declined by Rs300/mt at Rs49,300/mt ex-works.


In Mandi Gobindgarh, the daily index for ingot dropped by Rs600/mt at Rs45,000/mt ex-works in-line with a slump in local scrap prices.

($1= Rs74.28)

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