On d-o-d, domestic billet prices increase by INR 100-400/MT over Improve trades amid higher raw material prices.
Today, the offer price for Induction furnace grade billet are assessed at INR 27,000-27,200/MT (+100) ex-Raipur, INR 26,000-26,200/MT (+100) in Durgapur, INR 25,700-25,800/MT (+150) ex-Rourkela, INR 28,800-29,000/MT (+400) in Ahmedabad, INR 28,600-28,700 (+400) ex-Mumbai & INR 28,500-29,000/MT (+250) ex-Hyderabad. Price changes are on d-o-d (against last day) trade basis.
The manufacturers in Central & East India mentioned, there is none selling pressure on them specifically hot rolling mill owners as they are largely producing finish steel (rebar/structure) which gives good margins rather than to deal with billet with less margins.
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