Indian billet offers has registered thin changes against last day trade, market participants remains cautions about the market directions.
In major markets offers remain volatile by INR 100-300/MT on D-o-D basis, while during a week it reduced by upto INR 600/MT. Major price fall have seen in east & south India by INR 400-500/MT W-o-W.
Recently imposed import duty on billet by Bangladesh government is majorly impacting east & south billet manufacturers as these markets are largely selling billet to Bangladesh.
Billet offers as on 8th Jun’16
| Particulars | Prices | D-o-D | W-o-W |
| Ex-Mandi Gobindgarh | 24,600 | 0 | 300 |
| Ex-Durgapur | 20,900 | 50 | 450 |
| Ex-Jharsugda | 20,200 | 100 | 300 |
| Ex-Kolkata | 21,300 | 50 | 450 |
| Ex-Rourkela | 20,200 | 100 | 300 |
| Ex-Bhilai | 21,100 | 0 | 150 |
| Ex-Raigarh | 20,600 | 100 | 500 |
| Ex-Raipur | 21,100 | 0 | 150 |
| Ex-Ahmedabad | 23,050 | 300 | 50 |
| Ex-Bhavnagar | 22,850 | 300 | 50 |
| Ex-Goa | 21,400 | 0 | 100 |
| Ex-Jaipur | 23,500 | 0 | 400 |
| Ex-Jalna | 22,800 | 200 | 300 |
| Ex-Mumbai | 22,700 | 100 | 300 |
| Ex-Chennai | 22,000 | 300 | 650 |
| Ex-Hyderabad | 22,500 | 0 | 150 |
Basic prices in INR/MT
Source: SteelMint Research
Trade Highlights
1. An billet maker from Jalna (Maharashtra) mentioned, due to few merchant sellers there is billet shortage.
2. Ahmedabad billet offer increases due to hike in melting scrap offers by INR 300/MT in last 2 days.
3. Few bulk deals concluded in Hyderabad market post reduction in offers by INR 200/MT to INR 22,300/MT ex-plant. Present offers again raise offers to INR 22,500/MT.
4. Durgapur billet offers unchanged against last day despite rise in north Ingot prices by INR 100-200/MT. Market expected to gain if North India buying begin.
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