Indian Billet prices down upto INR 1,000/MT in last 1-week owing to seasonal slowdown. Western region of India that includes Mumbai, Jalna & Goa, have noticed sharp correction looking at rising imports of Re-bar from China.
India’s Eastern region does not witness price correction despite low production by Sponge iron manufacturers.
Northern & Southern region of India that largely depends on Scrap have noticed a price correction upto INR 500/MT; forcing Scrap prices to decline as well.
Indian Billet manufacturers have mentioned that the tight supply of Sponge iron and corrected Scrap prices likely to support Billet prices in coming weeks. Also, rising production cost will results to reduction in operational capacity.
Billet exports are not viable from India at the moment; however some deals for Nepal were heard to be settled at USD 520/MT Ex-Plant.
MS Billet Offers in Indian Market (Ex-Works)
|
Region |
City |
Price |
Change |
W-o-W |
M-o-M |
|
North India |
Mandi Gobindgarh |
35,000 |
0 |
– 200 |
– 1,250 |
|
East India |
Rourkela |
29,800 |
+ 50 |
– 300 |
– 850 |
|
Durgapur |
31,250 |
+ 100 |
– 300 |
– 550 |
|
|
Kolkata |
31,550 |
+ 100 |
– 300 |
– 550 |
|
|
Jharsugda |
29,800 |
+ 100 |
– 200 |
NA |
|
|
Central India |
Raipur |
30,850 |
+ 100 |
– 650 |
– 800 |
|
Raigarh |
30,550 |
+ 50 |
– 600 |
– 650 |
|
|
Bhilai |
30,800 |
+ 100 |
– 700 |
– 700 |
|
|
West India |
Mumbai |
30,900 |
0 |
– 300 |
– 2,200 |
|
Jalna |
30,700 |
– 200 |
– 1,000 |
– 1,600 |
|
|
Goa |
31,300 |
0 |
0 |
– 400 |
|
|
Jaipur |
33,000 |
+ 100 |
– 200 |
– 1,900 |
|
|
Ahmedabad |
31,800 |
– 100 |
– 350 |
– 1,900 |
|
|
Kandla/Ahmedabad |
31,800 |
– 100 |
– 350 |
– 1,900 |
|
|
South India |
Hyderabad |
31,500 |
0 |
– 500 |
– 1,400 |
|
Chennai |
32,200 |
0 |
– 300 |
– 300 |
Basic prices in INR/MT; ED at 12.36%; VAT as applicable
Payment next day/advance
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