Subdued buying interest is continuously poising Indian billet market, leading to further fall in offers by INR 100-400/MT against last day trade. However, south market today also remained volatile.
Lack of construction works is increasing inventory for finish long & flat steel products, especially in east, north & west coast of India, which is negatively impacting Indian billet prices and trades.
Trade sources from central India, Raipur reported that manufacturers are opening prices in buying interest of mill operators till that they are not prefering to quote offers.
North based mills are buying billet from east India i.e. Durgapur and Rourkela due to cheaper prices and freight. Billet offers in Raipur are assessed at INR 20,800/MT. While, it is available at INR 20,400/MT ex-Durgapur and INR 19,800/MT ex-Rourkela.
In Hyderabad and Chennai, billet prices have fluctuated marginally because of stability in melting scrap offers in both domestic and global markets. Offers are assessed at INR 22,200/MT ex-Chennai and INR 22,000/MT ex-Hyderabad. Trades remain average at these offers, manufacturers mentioned.
Leave a Reply