Hyderabad-based re-rollers have resumed purchases of billet after a few days gap, SteelMint learned. A hefty volume of purchases has been reported from Raipur, Central India due to a shortage in the local market of Hyderabad. As per trade sources, over 2,000 t billet deals have concluded today at INR 36,700-36,900/t exw Raipur, equivalent to INR 38,800-39,000/t FoR Hyderabad, while a few plants in Hyderabad have floated offers at approx INR 39,700/t FoR (INR 39,300/t Exw). According to sources, billet prices are likely to remain supported in Central & Southern regions following active demand amidst supply shortage.
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