Raw material shortage will support semi finish prices in coming days. Billet prices are at its bottom and are expected to improve believe market participant.
India’s billet offers are falling continuously from past one month. The prices have fallen by INR 400-800/MT W-o-W on account of poor buying in finish steels. Manufacturers are expecting that “Raw material shortage will support semi-finish market and from now it will improve. Prices were at its lowest level because of low buying of semi finish steel.’’
A Durgapur-based broker says that “We have received some queries from Bangladesh in the week’s beginning. We grabbed this opportunity and sold Billet to them at INR 28,200/MT (Basic, Ex-Plant Durgapur Price, Payment Advance)”.
Raw material –
Imported scrap offers are continuously stable in the same range. Exporters are not expecting scrap prices to come down in near future as other country buying remain firm.
In Pig Iron market there has been no major changes seen from past one month, as prices remain same. Manufacturers are continuously facing Iron ore shortage and there is no hope in price to come down in coming days.
International –
International billet prices moved up by USD 5-10 in last one week as scrap prices had gone up in the same time. Current offers from CIS are in the range of USD 508-510/MT FOB Black sea. Indian billet offers were last concluded at around USD 505/MT FOB East coast.
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