Albeit, billet demand is still bearish in central and east Indian local market, a slight improvement is witnessed from nearby regions. Manufacturers in central India (Raipur) mentioned that demand from western part (Gujarat and Maharashtra) is somehow supporting billet offers in the region.
Alongside, buying by producers in West Bengal and Odisha, which is also well-known as a major semi finish producing states, have improved slightly from north-east region. Cheaper freight charges and easy transportation are capturing the attention of north-east based billet makers to purchase material either from Durgapur or Rourkela.
Mandi Gobindgarh (Punjab) based induction and rolling mill operators are consistently buying sponge and billet from West Bengal and Odisha.
However this week, prevalence of sluggish demand in local market has pressurized billet manufacturers as prices at pan India dipped steeply by INR 400-700/MT.
Current offers for 125*125 mm billet are assessed at INR 19,600/MT ex-Durgapur (-400), INR 18,800/MT ex-Rourkela (-500), INR 19,300/MT ex-Raipur (-700), INR 22,050/MT ex-Mumbai (-150) and INR 21,500/MT ex-Hyderabad (0).
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