Domestic billet market during Apr’16 almost remained firm with minor price change of INR 50-350/MT on monthly average basis.
During April, the lowest level touched at INR 22,400/MT on 8 Apr’16 and highest at INR 23,000/MT on 15 Apr’16 in Durgapur. Taking monthly average, prices in Durgapur increased to INR 22,650/MT (+350, 1.6%) from INR 22,300/MT, followed by Rourkela at INR 21,750/MT (+250, 1.2%). However, slight price corrections were reported in Raipur and Mumbai markets.
It is to be noted that surge in billet export from India to Bangladesh and Nepal and constant rising imported scrap offers in global market had supported price stability in the month of Apr’16. In FY15, India exported 1.16 MnT of ingot/billet/blooms, which reached to 0.88 MnT in FY16 (consider HS Code 72071190, 72071920, 72071990)
Monthly average billet prices with M-o-M change
| Month | Duragpur | M-o-M | Raipur | M-o-M | Rourkela | M-o-M | Mumbai | M-o-M |
| Apr’15 | 27,350 | -450 | 26,850 | -100 | 26,150 | -250 | 28,900 | +250 |
| May’15 | 25,750 | -1,600 | 25,700 | -1,150 | 25,050 | -1,100 | 27,700 | -1,200 |
| Jun’15 | 24,950 | -800 | 25,400 | -300 | 24,500 | -550 | 26,950 | -750 |
| Jul’15 | 23,750 | -1,200 | 23,750 | -1,650 | 23,000 | -1,500 | 24,600 | -2,350 |
| Aug’15 | 22,550 | -1,200 | 22,900 | -850 | 22,000 | -1,000 | 24,800 | +200 |
| Sept’15 | 23,900 | +1,350 | 23,700 | +800 | 23,100 | +1,100 | 24,750 | -50 |
| Oct’15 | 21,700 | -2,200 | 21,700 | -2,000 | 21,100 | -2,000 | 22,900 | -1,850 |
| Nov’15 | 20,050 | -1,650 | 19,950 | -1,750 | 19,250 | -1,850 | 21,750 | -1,150 |
| Dec’15 | 20,300 | +250 | 20,750 | +800 | 19,650 | +400 | 22,600 | +850 |
| Jan’16 | 21,050 | +750 | 21,200 | +450 | 20,550 | +900 | 22,850 | +250 |
| Feb’16 | 21,500 | +450 | 21,930 | +730 | 20,750 | +200 | 23,850 | +1,000 |
| Mar’16 | 22,300 | +800 | 22,650 | +720 | 21,500 | +750 | 24,450 | +600 |
| Apr’16 | 22,650 | +350 | 22,500 | -150 | 21,750 | +250 | 24,400 | -50 |
Prices in INR/MT
Source: SteelMint Research
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