In this week, MS billet prices in domestic market have gained some stability, post continuous decline in prices during last few months. Slight improvement in demand from finish steel market based in central India has supported billet makers to maintain prices at the same level of INR 22,100/MT as a week ago.
In addition, firm raw material (sponge iron) prices in Durgapur and Raipur have also lent support to MS billet prices.
However in Durgapur, MS billet prices have moved up by INR 550/MT to INR 22,300/MT; involving a syndicate of billet makers.
On the flip side, southern billet manufacturers have reduced prices by INR 550/MT W-o-W, following dwindling demand in local market.
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