Billet offers in Central, East & North India recovered by INR 100-200/MT post a sparse trade activity since couple of days. However, in South & Western regions it remains unaltered.
Manufacturers reported prices have gone up in line with slight rise in purchase inquiries by mill operators, they also added that bulk deals are still in wait and watch mode.
Today that is 19th Jan’17, offers for Induction furnace grade billet are assessed at INR 24,700-24,800/MT (+100) ex-Raipur, INR 24,700-24,800/MT (+100) in Durgapur, INR 26,900/MT (+50) ex-Mumbai, INR 26,000/MT (0) ex-Hyderabad & INR 25,500-25,600/MT ex-Chennai. Price changes are on D-o-D (against last day trade) basis.
Industry participants in Central & East India stated “sales remain lull to outside states, while in the local market it remains hand to mouth situation.
Although, in West & Southern regions the manufacturers reported sluggish finish steel demand which kept billet offers firm.
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