“Demand has been constant for last few days. Even when sellers are ready to reduce offers, buyers are not willing to place orders as expensive scrap and free fall of rupee has made markets unpredictable. Trading volumes in finished market has not shown much improvement”, said market players.
“Manufacturers are offering billet at Rs 33500-600/t, still it is hard to find buyers.” said a broker based at Raipur.
“Billet price is showing uptrend on account of rising dollar. Freight charges might move up by Rs 200-300/MT if Diesel price increases. Sand mining issues are expected to resolve in a couple of days”, reported a trader in Hyderabad.
Billet trading price in Hyderabad and Jaipur rise by Rs 600/MT. Jalna, Kandla and Bhavnagar offers move up by Rs 200/MT. Whereas, a marginal increase of Rs 100/MT is seen in Raipur and Raigarh.
Manufacturers in Ahmedabad, Kolkata, Durgapur, Mumbai and Rourkela kept Billet offers at same levels.
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