Billet prices in India have improved in almost all mandis'
across the country. Buyers feel that it would be better to place some orders as
price may rise from current levels.
Raigarh: “We saw an increase in the number of inquiries from
yesterday due to which price of Billet has gone up and it is being traded at Rs
33,200/MT (Basic price, payment next day)”, said brokers.
Mandi Gobindgarh, Durgapur, Kolkata, Ahmedabad, Kandla and Bhavnagar: Billet manufacturers
raise offers by Rs 400/MT on rise in Steel Futures, though it will be early to
say if price will sustain. “Demand is decent in Kolkata and
Durgapur while buyers in Ahmedabad, Kandla and Bhavnagar are not in a hurry to place orders and wait till Monday for markets to show some direction”,
report market participants.
Raipur and Rourkela: “Demand has come in at these levels as buyers expect
further increase in price. Billet price is being quoted at around Rs 33,500/MT in Raipur,
up by Rs 300/MT where as Rourkela remains same at Rs 31,800/MT (Both are Basic
price, payment next day)“, said market
players.
Mumbai and Jalna: “As some improvement is seen in demand, trading price
increased by Rs 200/MT”, said traders.
Chennai and Coimbatore: ” Billet price rise by Rs 300/MT and Rs 100/MT
respectively alongwith the number of enquiries. Some of the Blast furnaces are
closed and shortage of material is witnessed” report manufacturers.
Hyderabad and Goa: Billet price remain stable at previous trade price.
“There is no extra demand and the entire production is being absorbed by the market. Sand mining issue remains unresolved”, said sources.
According
to market players, it will be too early to say if prices will sustain at
current levels and wait for the next week to show some movement.
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