Improved demand amid prevailing positive sentiments have pushed Indian billets to touch one and half year high levels which was last reported in Sep’15.
Today’s offer for 125*125 mm billet recorded at INR 24,400-24,500/MT ex-Raipur, INR 24,200-24,400/MT ex-Durgapur, INR 23,700/MT ex-Rourkela, INR 25,700-26,000/MT ex-Hyderabad & INR 26,700/MT ex-Mumbai, which is similar to prices in mid of Sep’16.
Trade participants in Gujarat, Odisha & in Chennai (West India, South & East India) who deals in exports & in the local market mentioned, prices have gain momentum as exports has improved. They further added that manufacturers have booked material for rest of the current month specially for exports.
Similarly in Central India, where manufacturers are receiving bookings from U.P, Punjab and few markets of Maharashtra added that, they are not in negative directions as it is also anticipating a sharp price hike by large producers for Jan’16 deliveries, which is an clear indication for healthy demand in near future.
*Correction
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