INDIA: Billet manufacturers offer discounts to attract customers

Indian Billet manufacturers cut offers by Rs 200-300 per tonne further in line with falling steel prices, weak demand and liquidity crisis.

Traders expect prices might go down further as quite a few rolling mills have stopped production in November.

Current offers for 100*100 mm Billet stands at Rs 30,100-30,200/MT (Ex Raipur). Some of the plants are even offering at Rs 30,000/MT.

Whereas, a large plant in Kutch (Gujarat) is offering Billet at Rs 31,200/MT (Ex-works). Prices at Mumbai stands at Rs 31,300/MT (Ex-Works).