Billet market in the
country keeps buyers in a watch and watch situation.
Mandi
Gobindgarh:
“Demand is weak and prices are expected to correct on the arrival of
monsoon. Some industries are shut on account of bearing losses. Power cut is
expected to take place soon as it will be made available for farmers.
We had been supplying
material to big plants in good quantity but now a situation of no supply
has come in. In April, material of around 4,000-5,000 tones was sold which had
reduced to 1,000 tones last month. For this month, we are anticipating even
lower sales than previous.
Power cut of three to
four hours is taking place currently but manufacturers show no worries on this.
It is on reasons of poor demand for the material. If production for a couple of
days is held, it does not make much of difference as inventory seems to be
enough in comparison to number of queries” market participants reported
SteelMint.
Raipur, Bhilai,
Jalna and Goa:
“Markets show no improvement on impact of weak sales in finished steel
material” said traders.
A broker in Bhilai
remarked market to be unpredictable and that reasons of low sales is not clear.
Rourkela
and Hyderabad:
“Market looks ok and demand is picking up slowly. Offers might improve by
Rs 200/MT”, said a manufacturer.
Leave a Reply