Billet offers move up as power prices due to power price rise in Chhattisgarh.
Raipur & Raigarh: “Billet offers in
Raipur have increased by Rs 600/MT at Rs 33,900/MT (Basic price, next day) and
by Rs 400/MT in Raigarh at Rs 33,400/MT on account of power price hike by around
20% from Rs 2.80/Unit to Rs 3.75/Unit w.e.f
5th May 12 which increases cost of Billet making by Rs
1,000/MT. Demand is coming up as per requirement and prices might further improve
by Rs 200/MT to 300/MT,” a Billet trader from Chhattisgarh reported SteelMint.
Kolkata &
Durgapur: “Buying is decent at unchanged prices as Billet is exported to
places like Sri Lanka and Bangladesh from Durgapur. If prices of Ingot and
Billet do not vary much, buyers prefer Billet as it is in a more purified form,” said a Durgapur based Billet manufacturer.
Hyderabad:
“A correction of Rs 800/MT is seen today as trades are few in the finished
steel market. Billet is quoted at Rs 33,900/MT (Basic price, next day) and is
anticipated to show resistance at these levels,” remarked sources.
Mumbai & Goa:
“As downtrend in prices by Rs 300/MT in Mumbai quotes Billet at Rs 34,800/MT (Basic
price, next day)and Goa offers fall by Rs 400/MT at Rs 33,500/MT (Basic price,
next day),” said market players.
Billet trading prices is expected to stabilize at these
levels in the near term.
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