Today, the manufacturers in major Indian markets increased billet prices by INR 50-250MT. The price rise is assessed across India except South region, where it almost remained firm.
After a slight uptick, Induction furnace grade billet prices in Indian market reported at INR 22,400-25,550/MT (USD 334-380) ex-works.
Snapshot of Major Markets
A Central India based standalone billet manufacturer stated, “routine buying is on same line, willing for bulk bookings which usually procured by out of state buyers.”
In East India, Durgapur it is analyzed that, shortage of sponge amid strong prices, is somehow supporting Ingot/billet prices in the market. If we look at the demand prospect, trades are average.
In North India, a Punjab based trader added, at present purchase are majorly from Odisha instead of West Bengal as basic price is cheaper in Odisha by around INR 1,000/MT while, freight charges vary by maximum INR 700/MT. He further added “local demand is moderate expect prices to remain slightly change.”
A Gujarat based billet producer mentioned “As imported scrap prices going up, here domestic demand improved for the material, expecting price for domestic scrap (ship breaking) remain strong, this may result in strengthen billet prices. He further added that, billet prices in the state change on the basis of scrap price movement. And in the present scenario there are less scope for major price change in scrap & billet as well.
Indian Billet prices as on 13 Feb’17
| Region | Particular/Delivery | Size, Grade, Origin | Prices | D-o-D | W-o-W |
| Northern | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 26,600 | + 250 | – 500 |
| Eastern | Ex-Durgapur | 125×125 mm, IS 2831 | 23,350 | 0 | – 50 |
| Ex-Jharsugda | 125×125 mm, IS 2831 | 22,400 | + 50 | – 500 | |
| Ex-Kolkata | 125×125 mm, IS 2831 | 23,750 | 0 | – 50 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 22,400 | + 50 | – 500 | |
| Central | Ex-Raigarh | 125×125 mm, IS 2831 | 23,000 | + 200 | – 200 |
| Ex-Raipur | 125×125 mm, IS 2831 | 23,900 | + 50 | – 200 | |
| Western | Ex-Ahmedabad | 125×125 mm, IS 2831 | 25,350 | + 150 | -450 |
| Ex-Bhavnagar | 125×125 mm, IS 2831 | 25,150 | + 150 | – 450 | |
| Ex-Goa | 125×125 mm, IS 2831 | 23,600 | 0 | – 400 | |
| Ex-Jalna | 125×125 mm, IS 2831 | 24,800 | + 100 | – 400 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 25,550 | 0 | – 50 | |
| Southern | Ex-Chennai | 125×125 mm, IS 2831 | 24,450 | 0 | – 450 |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 24,700 | 0 | – 300 |
Basic prices in INR/MT
Source: SteelMint Research
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