Domestic billet offers have increased with rise in trade volumes.
As per industry sources, lesser sellers at low offers has supported domestic billet market. Participants also reported that market had bottomed out due to high cost of production and low selling price.
We at Steelmint in the last week reported that Indian semis makers are planing to curtail production to sustain offers and to match demand-supply chain. However this week, manufacturers remain cautious to sell material at current level in expectation of further rise in prices.
Billet price movement during last 5 days
| Particular | 16-May’16 | 17-May’16 | 18-May’16 | 19-May’16 | 20-May’16 |
| Ex-Mandi Gobindgarh | 24,600 | 24,500 | 24,700 | 25,300 | 25,300 |
| Ex-Durgapur | 21,200 | 21,150 | 21,450 | 21,750 | 21,900 |
| Ex-Rourkela | 20,400 | 20,300 | 20,500 | 20,600 | 21,000 |
| Ex-Raigarh | 21,000 | 20,900 | 20,900 | 21,300 | 21,300 |
| Ex-Raipur | 21,200 | 21,050 | 21,200 | 21,600 | 21,650 |
| Ex-Ahmedabad | 22,400 | 22,100 | 22,650 | 22,900 | 23,100 |
| Ex-Jaipur | 23,400 | 23,300 | 23,300 | 23,800 | 23,800 |
| Ex-Mumbai | 22,850 | 22,900 | 23,000 | 23,050 | 23,500 |
| Ex-Chennai | 24,000 | 24,000 | 24,000 | 24,000 | 23,850 |
| Ex-Hyderabad | 22,000 | 22,250 | 22,250 | 22,500 | 22,750 |
Basic prices in INR/MT for size 100*100 & 125*125 mm MS billet
Source: SteelMint research
Leave a Reply