The daily Davis Index for billet in Raipur, Thursday, fell by Rs150/mt ($2.05/mt) to Rs39,500/mt ($540.72/mt) ex-works on low demand. Few deals heard at index price. Trading is expected to remain slow in the domestic market for the rest of the week amid New Year holiday mood. 

 

Pellet Sponge offers were at around Rs25,900/mt ($354.55/mt) ex-works Raipur flat from Wednesday. The index for rebar remained unchanged at Rs43,700/mt ($598.22/mt) ex-works Raipur.

 

In Mumbai, the daily index for billet fell by Rs300/mt to Rs41,400/mt ex-works. Billet makers reduced offers but some buyers still preferred to wait for firm price direction. The index for rebar rose by Rs200/mt to Rs47,700/mt ex-works due to increased in gauge parity by Rs200/mt.

 

In Mandi Gobindgarh, the daily index for ingot fell by Rs50/mt at Rs40,250/mt ex-works in line with the decrease in local scrap prices while the index for rebar remained unchanged at Rs45,000/mt ex-works.

 

In Jalna the bi-weekly index for billet flat at Rs41,300/mt ex-works on Thursday compared to last Tuesday. The bi-weekly index for rebar was up by Rs1,000/mt to Rs48,200/mt ex-works due to increase in gauge parity along with the increased in prices.

 

In Ludhiana, the bi-weekly index for ingot unchanged at Rs 41,000/mt ex-works.

($1=Rs73.05)

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