Billet trading price show some sign of improvement.
“Hyderabad and Ahmedabad market witness an increase of Rs 500/MT and Rs 300/MT in Billet offers at Rs 33,400/MT and Rs 35,000/MT (Both are Basic price, regular payment condition) on high raw material and Ingot price, improved demand in TMT and also as Billet demand has improved slightly after a weeks time,” report sources.
Billet prices in Raipur and Mumbai come up to Rs 33,500/MT and Rs 34,000/MT on average demand (Both are Basic price, next day payment) whereas price at Jaipur reduces to Rs 34,400/MT (Basic price, regular payment condition).
“In Mandi Gobindgarh and Rourkela, Billet offers reduce by Rs 200/MT as Ingot price comes down in Gobindgarh where Billet is being quoted at Rs 35,100-200/MT and buyers in Rourkela are reluctant to take position at Rs 31,400/MT (Both are Basic price, next day payment),” said traders.
Mandis' like Raigarh, Kolkata, Durgapur and Goa offer Billet on previous trading price and demand is decent at these levels.
Prices might sustain or move up further if demand continues to be good.
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