Indian billet manufacturers have further increase prices on improved purchase enquiries.
Today, major price rise in billet have seen in Maharashtra by upto INR 500/MT. Similarly, prices in other major markets have increased by INR 100-300/MT. However, Chennai based manufacturers have reduced prices by INR 600-700/MT due to decline in scrap prices by INR 500/MT D-o-D.
Following the price rise in billet, sponge manufacturers in Central & East India also gain prices by INR 100-200/MT.
According market participants, improved demand amid higher sponge offers have led to support Indian billet prices.
Post price surge today, billet offers in domestic market reached at INR 22,000-25,200/MT (USD 327-375) ex-works. The similar price levels were last recorded in mid of Apr’16.
Indian billet prices as on 5 Oct’16
| Region | Markets | Size/Grade | Prices | D-o-D | W-o-W | M-o-M |
| North | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 25,650 | + 200 | + 550 | + 2,350 |
| East | Ex-Durgapur | 125×125 mm, IS 2831 | 22,400 | + 100 | + 400 | + 2,150 |
| Ex-Kolkata | 125×125 mm, IS 2831 | 22,800 | + 100 | + 400 | + 2,150 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 22,000 | + 50 | 0 | + 2,350 | |
| Central | Ex-Raigarh | 125×125 mm, IS 2831 | 22,600 | + 200 | + 300 | + 2,700 |
| Ex-Raipur | 125×125 mm, IS 2831 | 23,050 | + 200 | + 450 | + 2,800 | |
| West | Ex-Ahmedabad | 125×125 mm, IS 2831 | 25,200 | 0 | 0 | + 3,450 |
| Ex-Jaipur | 125×125 mm, IS 2831 | 24,900 | + 150 | + 300 | + 2,600 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 24,200 | + 500 | + 150 | + 2,150 | |
| South | Ex-Chennai | 125×125 mm, IS 2831 | 23,800 | – 650 | – 650 | + 1,200 |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 24,000 | 0 | – 500 | + 2,000 |
Basic prices in INR/MT
Source: SteelMint Research
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