Operations at Mundra port were suspended due to  heavy rains for the last 30 hours, according to Davis Index sources. Steel mills in Kutch have stopped production process and have informed that this is likely to impact the finished steel prices amid weak demand. 

 

The Davis Index for rebar dropped by Rs1,000/mt ($13.4/mt) ex-works Kutch from August 17 to August 24. The district’s monthly steel production capacity stands at approximately 300,000mt and rebar production stands at 75,000mt.

 

($1=Rs74.19)

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