A continue rally over imposition of MIP come to halt as price corrected by INR 200-800/MT against last day trade
Billet prices in the Indian domestic market have noticed slight fall after a sudden price hike by INR 1,800-2,500/MT on imposition of MIP. However there is less expectations of major downfall from current trade levels INR 21,800-24,400/MT.
Current offers are in Raipur at INR 22,300/MT, Durgapur at INR 22,400/MT, Rourkela at INR 21,800/MT and Mumbai at INR 24,400/MT.
Billet agents/brokers in largely shared that from last 2-3 days demand supply mismatched as sellers more and buyers less in the market. If same situation continue, manufacturers will be under pressure to sell material at cheaper prices.
MS Billet offers as on 12 Feb’16
| Particular/Delivery | Prices | D-o-D | W-o-W | M-o-M |
| Ex-Mandi Gobindgarh | 25,900 | – 250 | + 2,300 | 1,650 |
| Ex-Durgapur | 22,400 | – 200 | + 1,400 | 900 |
| Ex-Kolkata | 22,800 | – 200 | + 1,400 | + 900 |
| Ex-Rourkela | 21,800 | – 100 | + 2,300 | + 800 |
| Ex-Raipur | 22,300 | – 450 | + 1,500 | + 500 |
| Ex-Bhavnagar | 23,900 | – 800 | + 1,300 | + 100 |
| Ex-Mumbai | 24,400 | – 250 | + 1,700 | + 1,400 |
| Ex-Chennai | 22,850 | – 300 | + 650 | + 1,050 |
| Ex-Hyderabad | 24,000 | – 500 | + 1,500 | + 1,000 |
Basic prices in INR/MT
Source: SteelMint Research
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