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

A few integrated steel mills in Raipur like Godawari Power and Ispat and Sarda Energy & Minerals have re-started manufacturing after a three-week after a  lockdown imposed by the government.


Secondary steel mills in Raipur and other parts of India could re-start production after April 20, per the guidelines issued by the government. Construction in non-COVID-19 hotspots is also likely to resume next week. The announcement, however, did not push demand for finished steel in domestic markets.


The daily Davis Index for rebar in Raipur remained unchanged at Rs31,200/mt ($405.82/mt) ex-works, with no trades. The daily index for billet also remained flat at Rs26,500/mt ($344.69/mt) ex-works.


On 16 April, Sarda Energy and Minerals announced re-starting activities at its manufacturing facilities. The company has taken necessary precautions as they prepare to commence production. Godawari Power and Ispat has already resumed operations early this week at its Ari Dongri iron ore mine located at Kanker, Chhattisgarh and iron ore pellet plant at Siltara Industrial Area, Raipur.


In Mumbai, the daily index for rebar remained unchanged and settled at Rs33,400/mt ($434.44/mt), while the index for billet settled at Rs28,700/mt ($373.30/mt) ex-works.

($1= Rs76.88)


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