During Feb’17, billet prices across major Indian markets drifted on a monthly average by INR 500-900/MT, 2-3% (USD 7-14), M-o-M.
In the month, major price fall was seen in Durgapur and Goa by INR 600-850/MT, followed by Mumbai at INR 500-600/MT and INR 400/MT in Rourkela.
The market was volatile in 1st half of Feb’17 the prices of billet were on declining mode. Where as in the 2nd half of the month it started to pick up owing to quite a good demand in Indian domestic & global market as well and rise in sponge prices.
On monthly average basis, Indian billet prices during Feb’17 were assessed at INR 24,800/MT (+0.81%) ex-Raipur, INR 26,200/MT (-2.06%) ex-Mumbai, INR 25,400/MT (0%) ex-Chennai & INR 27,450/MT (-1.61%) ex-Gobindgarh.
Billet monthly average prices since Feb’16
| Month | Durgapur | M-o-M | Raipur | M-o-M | Rourkela | M-o-M | Mumbai | M-o-M |
| Feb’16 | 21,500 | + 400 | 21,950 | + 700 | 20,750 | + 200 | 23,850 | + 950 |
| Mar’16 | 22,300 | + 800 | 22,650 | + 700 | 21,500 | + 750 | 24,450 | + 600 |
| Apr’16 | 22,650 | + 350 | 22,550 | – 100 | 21,750 | + 250 | 24,450 | 0 |
| May’16 | 21,750 | – 900 | 21,550 | – 1,000 | 20,850 | – 900 | 23,250 | – 1,200 |
| Jun’16 | 20,600 | – 1,150 | 21,000 | – 550 | 20,100 | – 750 | 22,650 | – 600 |
| Jul’16 | 19,750 | – 850 | 19,900 | – 1,100 | 19,100 | – 1,000 | 21,450 | – 1,200 |
| Aug’16 | 19,650 | – 100 | 19,700 | – 200 | 18,950 | – 150 | 21,450 | 0 |
| Sep’16 | 21,150 | + 1,500 | 21,400 | + 1,700 | 20,750 | + 1,800 | 23,100 | + 1,650 |
| Oct’16 | 21,850 | + 700 | 21,700 | + 300 | 21,150 | + 400 | 23,150 | + 50 |
| Nov’16 | 21,600 | – 250 | 21,850 | + 150 | 21,050 | – 100 | 23,850 | + 700 |
| Dec’16 | 23,100 | + 1,500 | 23,100 | + 1,250 | 22,350 | + 1,300 | 25,150 | + 1,300 |
| Jan’17 | 24,600 | + 1,500 | 24,600 | + 1,500 | 23,750 | + 1,400 | 26,750 | + 1,600 |
| Feb’17 | 24,000 | – 600 | 24,600 | 0 | 23,350 | – 400 | 26,200 | – 550 |
Basic Prices in INR/MT
Source: SteelMint Research
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