In the last couple of days Indian billet prices shrink by INR 500-1,000/MT (USD 7-15) across major markets. The prices have fallen due to weak trades in long steel specifically in rebar.
With the steep fall, the offer price for billet are reached – at INR 27,800-28,000/MT (-500) ex-Raipur, 27,600-27,800/MT (-400) in Durgapur, INR 29,800/MT (-700) in Mumbai, INR 29,300-29,400/MT (-950) in Ahmedabad, INR 31,700-31,800/MT (-550) in Gobindgarh & INR 30,000/MT (0) ex-Hyderabad. The prices changes are compared with 12 Apr’17.
Looking at price movement in raw material, sponge prices fall marginally by INR 200-400/MT in the same time duration.
On price corrections, the billet manufacturers have mentioned, generally around 60-80% volume being procured by rebar manufacturers and thus, weak demand in the product is directly affected the prices & sales of billet.
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