Manufacturers based in Chhattisgarh, Maharashtra & Gujarat that is Central & Western India have further raise billet price by INR 100-600/MT D-o-D & up to INR 1,000/MT during current week. These respected markets are considered as sentiments decider for Indian domestic market.
Today’s prices are – at INR 25,000/MT ex-Mumbai & INR 24,800-24,900/MT ex-Ahmedabad & INR 22,400-22,500/MT ex-Raipur.
A agent of semis products in Maharashtra quoted “As demand started to pick, supply is usual (limited), which in turn there is sharp rise in billet prices in the region.
Post demonetization of Indian currency has affected a large share of standalone Ingot/billet manufacturers and they have aggressively curtail production which in turn shrank supply for the product in open market.
In trade dynamics, currently heavy logistic issue is seen across India. Manufacturers in Central & East India, who supply material to West & North regions reported that despite sharp increase in freight charges there are none availability for logistic vehicles for immediate loading.
Thus, viewing the scenario, it can inferred that billet prices may move strong, if demand remain on positive note.
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