Domestic billet manufacturers have kept their offers stable today as they are eagerly waiting for market direction with the announcement of the union budget 2016-17. Besides, sales of finish rebar also reported thin in current circumstances.
Whereas, south markets like Chennai and Hyderabad have reported major price fluctuation of INR 400/MT and INR 500/MT respectively.
MS billet prices as on 25 Feb’16
| Particular | Prices | D-o-D | W-o-W |
| Ex-Mandi Gobindgarh | 25,700 | +100 | +250 |
| Ex-Durgapur | 21,400 | 0 | -100 |
| Ex-Rourkela | 20,850 | +150 | -150 |
| Ex-Raigarh | 21,450 | +50 | -250 |
| Ex-Raipur | 22,100 | 0 | 0 |
| Ex-Ahmedabad | 23,750 | +50 | +150 |
| Ex-Jalna | 24,000 | 0 | 0 |
| Ex-Mumbai | 24,200 | +200 | +300 |
| Ex-Chennai | 24,400 | +400 | +1,750 |
| Ex-Hyderabad | 23,000 | -500 | -500 |
Prices in INR/MT
Source: SteelMint Research
Trade-wise
1. RS Ispat in Raigarh sold billet at INR 21,900/MT, ex-plant to north regions.
2. Hyderabad billet makers are offering material at INR 23,000/MT ex-plant. However, there are no major buyers at these levels.
3. Sponge manufacturers in Odisha sold 80 FeM to Raipur at INR 12,700/MT FoR (including CST, ED extra).
4. Aryan Ispat is offering 80 FeM C-DRI (70:30 mix) at INR 11,700/MT, ex-Jharsuguda (Odisha).
5. Chennai is buying billet from Odisha at INR 27,200/MT (landed).
Leave a Reply