Domestic billet offers recorded a another fall of INR 100-400/MT D-o-D. Festive season has slowdown domestic steel trade activities; resulted the manufacturers have reluctant to cut their prices.
Current offers in domestic market are hovering at INR 20,400-22,800/MT (USD 305-340) ex-works.
Suppliers have reported that, the mill operators are not willing to purchase material as price correction may occur in near future.
In current scenario billet manufacturers are aggressive for bulk deals specially in central and east. On supply prospect, central and east based manufacturers are the major suppliers for billet and sponge in Indian domestic as well in the global market.
OCL Steels in Odisha is offering billet at INR 21,300-21,400/MT ex-works for exports. A official confirmed that few deals have been concluded to Nepal during last week. He further added that due to festive off inquiries are less and anticipating prices to remains under pressure.
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