Post significant price hike, today the manufacturers were reluctant to cut prices as the buying interest looks limited. On D-o-D, prices fell by INR 100-350/MT in across regions, except in South India.
Current offers are as follow – INR 24,500-25,500/MT in East India, INR 25,300-27,000/MT in South, INR 27,000-28,000/MT in West & INR 28,800/MT in Northern region.
Trade participants in Maharashtra (Western India) reported, prices fell as supply improved by local market based manufacturers on recent increase in production.
However, in Central & East India, the manufacturers mentioned that, demand has slowdown as prices are in the higher range which had made the mill operators to be cautious on purchasing the material. They further added, it seems that inquiries will remain strong as prices of key raw materials are in increasing mode. Recently, Sponge, Pig iron & Silico Manganese prices gain by INR 500-1,000/MT.
Billet prices as on 04 Jan’17
| Markets | Size, Grade | Price | D-o-D | W-o-W | M-o-M |
| Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 28,700 | -200 | + 1,050 | + 2,800 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 25,400 | – 100 | + 1,200 | + 3,000 |
| Ex-Kolkata | 125×125 mm, IS 2831 | 25,800 | – 100 | + 1,200 | + 3,000 |
| Ex-Rourkela | 125×125 mm, IS 2831 | 24,450 | – 100 | + 650 | + 2,950 |
| Ex-Raigarh | 125×125 mm, IS 2831 | 24,800 | – 200 | + 1,200 | + 3,000 |
| Ex-Raipur | 125×125 mm, IS 2831 | 25,200 | – 100 | + 1,250 | + 3,000 |
| Ex-Ahmedabad | 125×125 mm, IS 2831 | 27,900 | – 300 | + 1,900 | + 3,700 |
| Ex-Jalna | 125×125 mm, IS 2831 | 26,800 | – 200 | + 800 | + 3,300 |
| Ex-Mumbai | 100×100 mm, IS 2831 | 27,500 | – 350 | + 1,100 | + 3,400 |
| Ex-Chennai | 125×125 mm, IS 2831 | 25,300 | 0 | + 850 | + 1,750 |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 27,000 | 0 | + 2,000 | + 3,500 |
Basic prices in INR/MT
Source: SteelMint Research
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