Domestic billet offers fell by INR 100-600/MT against last day trades & upto INR 800/MT (USD 13) in week duration.
On daily basis major price fall is seen in Ahmedabad, Western India by INR 500-600/MT. However, in rest of the key markets it declined by INR 50-200/MT.
Since last two weeks, the trades are sluggish for rebar which directly affected billet sales, hence prices moved downward.
Presently, offers for Induction furnace grade billet for domestic buyers are assessed in the range of INR 23,800-28,600/MT (USD 368-444/MT) ex-works. Whereas export offers are evaluated at USD 390/MT FoB.
Falling global prices has dented billet exports from India since April. Thus, there are no fresh bulk export deals apart from small deals to Nepal & Sri Lanka.
For an outlook, the industry participants are looking at tedious market trends globally; it seems that prices may remain under pressure as the selling pressure is mounting gradually.
Domestic billet offers as on 12 May’17
| Region | Particular/Delivery | Prices | D-o-D | W-o-W | M-o-M |
| North India | Ex-Mandi Gobindgarh | 28,600 | – 150 | -200 | -2,900 |
| East India | Ex-Durgapur | 24,600 | – 50 | -300 | -3,100 |
| Ex-Rourkela | 23,800 | – 200 | -400 | -3,600 | |
| Central India | Ex-Raipur | 25,200 | – 100 | +200 | -2,700 |
| West India | Ex-Ahmedabad | 27,000 | – 550 | -800 | -2,300 |
| Ex-Jaipur | 26,800 | – 200 | 0 | -4,000 | |
| Ex-Mumbai | 26,800 | – 50 | -100 | -3,000 | |
| South India | Ex-Chennai | 26,700 | 0 | -200 | -2,200 |
| Ex-Hyderabad | 26,000 | 0 | 0 | -4,000 |
Prices in INR/MT
Source: SteelMint Research
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