With week opening, Indian billet market today has opened with a price rise of upto INR 300/MT. Offers in west coast have moved up by INR 200-300/MT and INR 100-200/MT in central & east regions. While, south based manufacturers have kept their offers unchanged for the day.
Billet agents from central & east reported that offers have moved up today, but mill operators are not taking interest at increased offers and are in wait and watch mode.
Trade updates
1. Durgapur based manufacturers reported, freight charge to north India (Mandi Gobindgarh) has increased from earlier INR 2,400/MT to INR 2,600-2,650/MT. This may support billet prices in Gobindgarh as the new dispatch cost will be higher than earlier. Today’s billet offer in Durgapur have increased to INR 19,900/MT ex-plant.
2. A south based large manufacturer and price trend decider namely Shakti Ferro has kept its billet offers unaltered at INR 25,500/MT ex-plant (including 12.5% ED; CST/VAT excluded). The plant in the last week had increased offers by INR 500-1,000/MT for billet and rebar.
3. Sources in Odisha mentioned that few big billet sellers, including OCL Iron & Patnaik Steel raised billet offers by INR 100/MT to INR 19,100/MT ex-plant, Odisha.
4. A billet agent, who deals in bulk within Maharashtra shared that billet offers in Mumbai have increased by INR 200/MT due to no sellers at below this offers. Deals are yet not healthy at increased offers.
Indian billet prices as on 18 Jul’16
| Region | Particular/Delivery | Size/Grade | Prices | D-o-D | W-o-W |
| North | Ex-Gobindgarh | 125×125 mm, IS 2831 | 23,000 | + 100 | – 500 |
| East | Ex-Durgapur | 125×125 mm, IS 2831 | 19,900 | + 200 | – 450 |
| Ex-Kolkata | 125×125 mm, IS 2831 | 20,300 | + 200 | – 450 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 19,050 | + 100 | – 350 | |
| Central | Ex-Raigarh | 125×125 mm, IS 2831 | 19,300 | + 100 | – 800 |
| Ex-Raipur | 125×125 mm, IS 2831 | 19,650 | + 50 | -550 | |
| West | Ex-Ahmedabad | 125×125 mm, IS 2831 | 22,100 | + 300 | – 850 |
| Ex-Goa | 125×125 mm, IS 2831 | 20,300 | 0 | – 700 | |
| Ex-Jaipur | 125×125 mm, IS 2831 | 21,800 | + 200 | – 700 | |
| Ex-Jalna | 125×125 mm, IS 2831 | 21,300 | + 100 | – 100 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 21,600 | + 200 | + 200 | |
| South | Ex-Chennai | 125×125 mm, IS 2831 | 22,500 | 0 | + 750 |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 21,500 | 0 | – 300 |
Basic prices in INR/MT
Source: SteelMint Research
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