'Billet prices noticed
a downfall on account of weak demand in finished in almost all places,” said
sources.
“Billet prices in
places like Raipur, Raigarh and Kolkata corrected marginally by Rs 100-200/MT
due to slow demand. But even after the falling prices, trading volumes have
been low. Buyers are unwilling to take any position at these levels,” said
market players.
Billet prices in Jalna
also went down by Rs 200/MT and is being traded at Rs 34,600-700/MT (Basic
price) as only the local sales is taking place. Due to weak demand we expect
further correction in prices,” said a Jalna based trader.
“Manufacturers are
offering billet at Rs 32,500/MT (Basic price) but there are very limited buyers
in falling markets,” said a broker based in Rourkela.
Re-Bar prices also
correct by Rs 400-500/MT in most of the places, reported sources.
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