After persistent price rise of upto INR 2,000/MT in a week, Indian billet market today has reported a downfall of INR 100-500/MT against the last day trade. Major price correction of INR 500/MT is witnessed in west India, followed by central and east India.
However, south Indian market has remained stable in the duration on account of average trade activities. Current prices for 125X125 mm billet are assessed in the range of INR 22,000-25,200/MT on ex-works basis.
Sources reported that manufacturers have reduced their offers due to less buying enquiries from rolling mill operators.
In the meantime, raw material (sponge iron) prices have remained stable, with minor price fluctuations of INR 50-100/MT.
Viewing such price volatility in the domestic market, the manufacturers are in wait & watch condition.
MS Billet prices as on 28 Sep’16
| Region | Particular/Delivery | Prices | D-o-D | W-o-W | M-o-M |
| North India | Ex-Mandi Gobindgarh | 25,300 | – 200 | + 900 | + 2,000 |
| East India | Ex-Durgapur | 22,300 | – 100 | + 1,000 | + 1,950 |
| Ex-Jharsugda | 22,050 | – 50 | + 1,150 | + 2,350 | |
| Ex-Kolkata | 22,700 | – 100 | + 1,000 | + 1,950 | |
| Ex-Rourkela | 22,050 | – 50 | + 1,150 | + 2,350 | |
| Central India | Ex-Raipur | 22,800 | – 100 | + 1,350 | + 2,500 |
| West India | Ex-Ahmedabad | 25,200 | – 500 | + 2,100 | + 3,500 |
| Ex-Bhavnagar | 25,000 | – 500 | + 2,100 | + 3,500 | |
| Ex-Goa | 23,300 | 0 | + 800 | + 2,300 | |
| Ex-Jaipur | 24,600 | – 200 | + 1,200 | + 2,100 | |
| Ex-Jalna | 24,400 | 0 | + 1,400 | 2,300 | |
| Ex-Mumbai | 24,150 | – 250 | + 1,250 | 1,550 | |
| South India | Ex-Chennai | 24,450 | 0 | + 900 | 2,650 |
| Ex-Hyderabad | 24,500 | 0 | + 1,500 | 2,500 |
Basic prices in INR/MT
Source: SteelMint Research
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