Lack of trade activities continue to hit domestic billet market as prices today declined by INR 100-300/MT against the last day closing.
Central and south India have registered a major price corrections of INR 300/MT in a day. Central India based billet makers remained under pressure on account of dull demand by mill operators and non-viability to supply billet in other markets. While, south India, especially Chennai reported price corrections owing to weak demand coupled with fall in imported scrap offers.
Current offers are accessible in the range of INR 20,700-24,800/MT in domestic market.
MS billet offers as on 23 May’16
| Particulars | Prices | D-o-D | W-o-W |
| Ex-Mandi Gobindgarh | 24,800 | -200 | +200 |
| Ex-Durgapur | 21,500 | -150 | +300 |
| Ex-Rourkela | 20,700 | -100 | +300 |
| Ex-Raipur | 21,250 | -300 | +50 |
| Ex-Ahmedabad | 22,600 | -200 | +200 |
| Ex-Goa | 21,450 | 0 | -350 |
| Ex-Jalna | 23,200 | +100 | +350 |
| Ex-Mumbai | 23,300 | -200 | +450 |
| Ex-Chennai | 23,550 | -300 | -450 |
| Ex-Hyderabad | 22,500 | 0 | +500 |
Prices in INR/MT
Source: SteelMint Research
Trade-wise
1. Shyam Sel is offering billet for domestic buyers at INR 21,600/MT and for export (Nepal and Bangladesh) at USD 320-325/MT (INR 21,600-21,800/MT) ex-plant, Durgapur.
2. A Hyderabad based manufacturer, Vaksh Steel sold billet at INR 22,500/MT ex-plant.
3. NINL has opened a new price circular to sell concast billet in open market at INR 21,200-21,700/MT (ex-plant, Odisha), with reduction in offers by upto INR 1,500/MT against offers in last price circular.
Leave a Reply