Indian Billet prices moved up on regulatory measures and seasonal demand.
Indian Billet prices have boosted by INR 1,500/MT (USD 25/MT) in last one month owing to improved seasonal demand and some issues with supply of Iron ore from Odisha. Trade sources mentioned that prices have risen more than expectation, however with the Supreme Court’s interim order on Odisha mining case which is still pending, prices likely to find support.
Current MS Billet Prices in Indian domestic Market as on 29 Apr, 2014
|
Region |
City |
Price in INR/MT |
Prices in USD/MT |
M-o-M |
|
North India |
Mandi Gobindgarh |
35,700 |
585 |
+ 1,400 |
|
East India |
Rourkela |
30,700 |
503 |
+ 1,500 |
|
Durgapur |
31,800 |
521 |
+ 1,000 |
|
|
Kolkata |
32,100 |
526 |
+ 1,000 |
|
|
Central India |
Raipur* |
31,700 |
520 |
+ 1,250 |
|
Raigarh* |
31,400 |
515 |
+ 1,400 |
|
|
West India |
Mumbai* |
33,800 |
554 |
+ 1,750 |
|
Jalna |
33,400 |
548 |
+ 1,700 |
|
|
Ahmedabad |
33,100 |
543 |
+ 100 |
|
|
South India |
Hyderabad |
33,700 |
552 |
+ 1,200 |
|
Chennai |
33,800 |
554 |
0 |
Indian Export Offers for Billet
Indian exporters have also raised their offers by USD 15-20/MT owing to rise in domestic prices. Last deal of 3SP grade Billet was settled at USD 530/MT FOB Haldia to Sri Lanka, which is now at USD 540/MT FOB.
On the similar lines, export offers to Bangladesh are around USD 530/MT CFR Benapole, which is quite high from buyers’ expectation.
Exchange Rate: USD 1= INR 60.49
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