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

Billet and rebar prices rose in Mumbai but were unchanged in Raipur on Friday. The Davis Index for rebar in Mumbai increased by Rs500/mt ($7/mt) to Rs46,500/mt ($640/mt) ex-works on Friday, following a rise in ingot and billet prices along with healthy demand. The price rise was also supported due to a supply crunch and rise in domestic scrap prices by Rs500/mt in Jalna.


In Raipur, the index for billet in Raipur was unchanged at Rs38,800/mt ex-works on elevated Sponge iron prices and other input costs. Billet suppliers could keep their offers firm amid rising raw material costs, including Sponge iron, pig iron, and silico- manganese.


Pellet Sponge offers rose by Rs500/mt to Rs27,500/mt ex-works Raipur, but buyers were unwilling to negotiate beyond Rs27,200/mt ex-works. The index for rebar was also unchanged at Rs42,500/mt ex-works Raipur on sluggish demand.


In Mandi Gobindgarh, the index for ingot declined by Rs100/mt to Rs40,400/mt ex-works amid a dip in local scrap prices.


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