Secondary steel mills in Raipur plan to restart their plants in the first week of May. The daily Davis Index for rebar remained unchanged at Rs31,500/mt ($412.41/mt) ex-works Raipur as markets were shut amid the lockdown. The daily index for billet remained flat at Rs26,500/mt ex-works Raipur.
Rebar manufacturers have begun taking new orders from the last few days but deals were limited. Also, mills have started dispatching goods to customers and clearing order received before the COVID-19 outbreak.
Steel producer Prakash Industries plans to restart their manufacturing units at Raipur and Champa in Chhattisgarh on Saturday, April 25.
Mills based in Mumbai, Jalna and Mandi-Gobindgarh are yet to announce resumption of operations due to strict restriction imposed by the state governments. Mills here are unlikely to restart before the lockdown end on May 3 or until public transportation resumes as they face shortage of casual workers. In Mumbai, the daily index for rebar remained unchanged and settled at Rs33,400/mt ($437.28/mt), while the index for billet settled at Rs28,700/mt ($375.75/mt) ex-works.
The daily Davis Index for ingot remained unchanged at Rs29,800/mt ($390.15/mt) ex-works Mandi Gobindgarh.