In current trade, Indian billet manufacturers have kept their offers unaltered across all prime markets. On the flip side, south market has registered a sharp price corrections of INR 500/MT, followed by west by INR 100-300/MT against the last day closing.
The manufacturers are currently in a wait-and-watch mode and waiting for price updation in raw material this month.
Moreover, improved billet export market is somehow supporting east coast based market. However, bearish trading in south and west markets has led to steep correction in billet prices.
At present circumstance, 125*125 mm MS billet prices are hovering in the range of INR 21,500-25,300/MT.
Current billet prices with D-o-D changes
| Particular | Prices | D-o-D | W-o-W |
| Ex-Mandi Gobindgarh | 25,500 | 0 | -300 |
| Ex-Durgapur | 22,550 | +50 | -300 |
| Ex-Rourkela | 21,500 | 0 | -200 |
| Ex-Raipur | 22,050 | -50 | -550 |
| Ex-Ahmedabad | 23,850 | +50 | -1,150 |
| Ex-Goa | 23,000 | 0 | +100 |
| Ex-Jalna | 24,000 | -100 | -200 |
| Ex-Mumbai | 23,700 | -300 | -800 |
| Ex-Chennai | 25,300 | 0 | +400 |
| Ex-Hyderabad | 24,500 | -500 | -500 |
Prices in INR/MT
Source: SteelMint Research
Key trade dynamics
1. Billet having low Carbon content is being traded at around INR 25,800/MT in Mandi Gobindgarh’s local market.
2. West Bengal based manufacturers reported boost up in billet export; few deals concluded at around INR 22,700/MT (USD 340/MT) ex-works.
3. Billet offers in Raipur cheaper by INR 500/MT than offers in Durgapur. This may improve buying through CST billing, as buyer market is similar for both these seller markets.
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