As per sources, price volatily continues in Indian billet market. Today, Indian manufacturers have raised their offers by INR 100-200/MT D-o-D. Offers in Chennai have also gained by INR 200/MT post a long duration.
Current offers are assessed at INR 19,500/MT ex-Raipur and Durgapur, INR 18,700-18,800/MT ex-Rourkela, INR 21,600/MT ex-Mumbai, INR 21,000/MT ex-Hyderabad and INR 21,500/MT ex-Chennai.
As per manufacturers, purchase enquiries are usual at present and it anticipated prices will remain firm in near term.
In Raipur, few large hot rolling mill operators are actively supplying billet in open market. The manufacturers are offering billet at less price by INR 100-200/MT than the price offered by merchant billet manufacturers. This in turn has narrowed down the price gap between ingot and billet to INR 300-400/MT from earlier INR 500-600/MT.
Similar situation is prevailing in Durgapur market, where billet trading equivalent to ingot prices due to rising ingot export.
Manufacturers in Odisha are offering billet in the range of INR 18,600-18,900/MT, depending on payment conditions as the material is mostly being supplied to other states, reported few traders based in north India.
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