Indian Billet prices
soften by Rs 200-300/MT on falling Steel Futures on NCDEX Steel Long. May contract corrcted
over 200 points to 34350/MT in the evenning.
Rupee is being traded at four week low to Rs 52.83 per USD.
“Raigarh Billet demand is slow as there is shortage of
laborers and also due to the summer season. As this is also the festive time,
trading volumes are low. Trading prices are quoted by Rs 300/MT less than
previous trade at Rs 33,300/MT (Basic price) and might correct further by Rs
200-300/MT,” a trader reported SteelMint.
“Rourkela Billet is being offered with a correction of Rs
400/MT at Rs 33,000/MT (Basic price) and demand is weak in line with slow
demand of finished steel,” said a Rourkela based trader.
“Mumbai demand for Billet is decent and it is being traded
at Rs 35,200/MT MT (Basic price), down by Rs 100/MT,” a manufacturer in Mumbai
remarked.
“Jalna Billet is being traded unchanged at Rs 34,200-300/MT
(Basic price) on an average demand,” a manufacturer in Jalna quoted.
“Kandla Billet prices are same at Rs 35,300/MT (Basic price)
on weak demand. Traders expect prices to correct by Rs 200-300/MT in near term,” said sources.
“Goa Billet is trading unchanged at Rs 33,900/MT and trading
volumes are low due to weak finished product demand. It is unpredictable if
prices might either correct or rise,” said a Billet trader in Goa.
Demand is weak and prices have reduced as construction
sector is down due to labour shortage.
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