Indian Billet prices are kept at same levels from last one week. Despite weak demand and low interest from rolling mills, market traders do not expect prices to correct majorly.
“There is not much scope of correction though buying has been weak. Low production and high power cost will not let prices fall. Moreover, demand improves pre-monsoon as people want to complete the pending construction work”, said a Billet trader based in Nagpur (Maharashtra).
Whereas, traders in East India say, “Buying is seen from North whenever prices correct. Billet at Rourkela is being offered at Rs 31,700-800/MT (Basic) and demand from Bhiwadi and Muzzafarnagar is good.
Billet Prices
Raipur= Rs 33,000-100/t
Raigarh=Rs 32,500-600/t
Rourkela= Rs 31,700-800/t
Hyderabad= Rs 34,400/t
Mumbai= Rs 34,000/t
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