Billet manufactures across India have raised their offers by another 200-300/MT on Wednesday on improved demand and high raw material cost like scrap and sponge iron.
“Demand is overwhelming since last few days, specially from Ghaziabad and Muzzafarnagar as most of Induction furnaces in U.P. are not operating on unavailability of scrap.” said a billet broker based in Raigarh.
“Billet prices in Raipur are hovering around Rs 33,100-33,300/MT. Whereas Raigarh is being quoted st Rs 32,800/MT. There are few manufacturers who are quoting much higher than market prices”, said a steel trader based in Raipur.
Billet prices at Durgapur trades at Rs 37,300 (Incld All) higher by Rs 200/Mt from yesterday.
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