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

Rebar prices in Mumbai continued on uptrend as local scrap and billet prices increased. 


The daily Davis Index for rebar in Mumbai rose by Rs700/mt ($10/mt) at Rs50,500/mt ($680/mt) ex-works on Tuesday from Friday. The index for billet was up by Rs700/mt at Rs45,700/mt ($615/mt) ex-works.


On Monday, secondary rebar mills in Mumbai revised their new gauge parity and increased prices by Rs200/mt for all sizes with effect from August 16. The new parity stands now for 10 to 25mm at Rs3,900/mt and 8 and 32mm at Rs4,400/mt. Demand for rebar was healthy on Monday but declined today after prices increased, the mills shared. 


In Raipur, the daily index for billet was up by Rs300/mt at Rs43,600/mt on Monday from Friday amid high sponge iron prices. The index for rebar was up by Rs300/mt at Rs45,800/mt ex-works.


Pellet sponge prices stayed at Rs32,200/mt ($…/mt) ex-works Raipur but buyers remained limited prices surged. 


In Mandi Gobindgarh, the daily index for ingot was up by Rs500/mt at Rs46,000/mt ex-works in-line with rise in local scrap prices.


In Chennai, the bi-weekly index for billet and rebar remained unchanged at Rs43,500/mt and Rs47,500/mt respectively on Tuesday as compared to last week.

($1= Rs74.31)


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