Indian billet manufacturers have slightly increase prices by INR 100-200/MT, D-o-D.
Today, billet offers in domestic market were reported at INR 20,500-20,800/MT in central India, INR 20,500-21,500/MT in east-India, INR 22,000-22,600/MT in western parts of India, INR 21,700-22,200/MT in south-India and INR 24,000/MT in north India.
However, Global offers are prevailing at USD 335-340/MT FOB India (east coast) & USD 345-350 FOB China. Offers move up by USD 5-10/MT W-o-W.
Agents in Indian market who deals in bulk mentioned that, on increased prices trades are taking place as there is rumor in the market for strong demand post Diwali festival.
In context to raw materials, prices of sponge iron have also increased by INR 100-300/MT D-o-D.
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