Billet trading prices gain on rising Ingot and Sponge Iron prices as per market expectations. Prices were anticipated not to come down further as they were at bottom end. Chhattisgarh power prices will rise by 20% from tomorrow.
Raipur Billet trades at Rs 33,500-600/MT. Raigarh and Rourkela offers are at Rs 33,200-300/MT, up by Rs 200/MT and Rs 32,200/MT, with Rs 300/MT more respectively.
Mumbai and Jalna prices increase by Rs 200/MT at Rs 34,800/MT and Rs 34,000-200/MT respectively.
Market players expect buying should come in small quantities. Buyers were in a wait and watch mode as prices showed correction frequently.
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