The daily Davis Index for Raipur settled unchanged at Rs31,500/mt ($413.60/mt) ex-works. Rebar mills said that demand from outside the state is still on lockdown, as is all of north India.
However, the Chhattisgarh government, on April 22, allowed retail shops in Raipur to open for a limited time period. This might push rebar demand, gradually. The daily index for billet remained flat at Rs26,500/mt ($347.95/mt) ex-works.
In Mumbai, the daily index for rebar remained unchanged and settled at Rs33,400/mt ($438.55/mt), while the index for billet settled at Rs28,700/mt ($376.83/mt) ex-works.
Secondary steel mills continue to remain shut across Mumbai, Jalna, Raipur and Mandi-Gobindgarh till May 3.
In Mandi Gobindgarh, the daily Davis Index for ingot remained unchanged at Rs29,800/mt ($391.28/mt) ex-works.