Neelachal Ispat Nigam Limited (NINL), a state-owned steelmaker, is offering 15,995 MT Concast Steel Billet (grade IS: 2830/2831) at INR 26,000-26,200/MT (USD 420-423/MT) ex-plant, Odisha.
- Billet of 150×150 mm (9-12 m) is offered at INR 26,000/MT (ex-NINL plant)
- 150×150 mm (6 m) Billet is offered at INR 26,200/MT (ex-NINL plant)
NINL’s Offers fall by around INR 1,000/MT against Last Prices
Earlier, NINL had offered the same material i.e. Concast Billet (grade IS: 2830/2831) at around INR 27,000-27,300/MT (USD 435-440/MT) ex-plant. Now, the company has reduced the offers by INR 1,000/MT and increased the quantity to 15,995 MT (earlier quantity was 9,500 MT).
Billet Prices touch 1-year low Level
Indian Billet prices in the secondary market are witnessing continuous downfall movement. SteelMint while analyzing the data assessed, MS Billet prices in the domestic market have almost corrected by INR 1,000-2,500/MT in a month’s time. As per market participant, reasons behind the prices correction is easing supply of raw material and slow demand for finished Long steel. Currently, offers in the secondary market are in the range of INR 26,700-29,700/MT (USD 430-480/MT) ex-plant.
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