After a hike of INR 200-600/MT yesterday, billet prices toady have corrected by INR 200-500/MT against the last day closing. On Saturday, prices had boosted up by INR 600-1,200/MT D-o-D, which today fell drastically.
Trade activities are slack as sellers and buyers have postponed their sales on the backdrop of current financial year closing.
In current circumstances, major price corrections of INR 500/MT are witnessed in central India, followed by east (INR 300/MT) and north India (INR 200/MT). However, south market has remained stable.
125*125 mm commercial grade billet is available in the range of INR 21,600-25,500/MT in domestic market.
Current MS billet price movement
| Particular | Prices | D-o-D | W-o-W |
| Ex-Durgapur | 22,550 | – 200 | 700 |
| Ex-Rourkela | 21,600 | – 300 | 600 |
| Ex-Raipur | 22,600 | – 300 | 500 |
| Ex-Goa | 24,000 | 0 | 600 |
| Ex-Jalna | 24,800 | 0 | 1,000 |
| Ex-Mumbai | 24,700 | – 450 | 1,000 |
| Ex-Chennai | 25,300 | 0 | – 400 |
| Ex-Hyderabad | 25,500 | 0 | 1,000 |
Prices in INR/MT
Source: SteelMint Research
Trade-wise
1. Billet supply is viable from Raipur to Hyderabad and Jalna; freight from Raipur to Hyderabad is INR 2,000/MT and Raipur to Jalna is INR 1,400-1,500/MT.
2. No selling pressure on billet makers based in Durgapur amid bulk export deals in the mid of this month at INR 22,500/MT, especially to Nepal and Bangladesh.
3. Rising imported scrap offers will further support billet and rebar offers in Maharashtra, Mumbai and Jalna, reported sources.
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