Billet trading prices show downtrend today on falling Steel Futures.
“Raipur, Bhilai
and Raigarh Billet prices slip by Rs 400/MT, Rs 200/MT and Rs 500/MT
and is being quoted at Rs 38600-800/MT, Rs 33,600/MT and Rs 33,000-200/MT (All
prices are Basic) as markets are weak on falling steel futures and buyers are to
take position at higher levels but prices might recover soon as buying has to
come back,” reported sources.
“Rourkela Billet is being traded at Rs 32,000/MT, down by Rs
200/MT on weak sales,” said traders .
Jalna and Jaipur
trading prices come down to Rs 34,000/MT (Basic) Rs 35,500-600/MT (Basic) respectively
today.
“Ahmedabad Billet
prices slip by Rs 300/MT and is being quoted in the range of Rs 35,200-300/MT
(Basic, regular payment) whereas Kandla
and Bhavnagar Billet prices correct by Rs 200/MT that is being quoted in
the range of Rs 34,900-35,000/MT (Basic) and Rs 35,000-100/MT (Basic) respectively.
These markets face demand in small
quantities due to low trading volumes in finished steel market and labour
shortage,” said a trader.
Kolkata, Durgapur,
Mumbai, Goa and Hyderabad prices remain at same levels as previous
trades. According to market players, Hyderabad
prices might jump in the range of Rs 1,000-1,500/MT if power issues come up.
Billet demand is sluggish on poor trades in finished steel markets.
Leave a Reply