The daily Davis Index for rebar in Mumbai settled flat at Rs34,200/mt (460.17/mt) ex-works with few trades reported. The daily Davis Index for billet fell marginally by Rs67/mt ($1.95/mt) to settle at Rs29,500/mt ($396.93/mt) ex-works Mumbai.
In Mandi Gobindgarh, the daily index for ingot settled unchanged at Rs29,350/mt ($394.91/mt) ex-works. Mills cited thin trades in the North.
In Raipur, the daily Davis Index for rebar settled unchanged at Rs31,400/mt ($422.49/mt) ex-works. The daily Davis index for billet fell by Rs400/mt($5.38/mt) and settled at Rs26,650/mt ($358.58/mt) ex-works Raipur, due to a fall in pellet sponge prices. Pellet sponge iron prices in Raipur were at Rs17,000-17,100/mt, down by Rs300-400/mt from Tuesday. A few mills are planning to cut rebar output till COVID-19 spread halts and all domestic markets resume full fledged activity.