Billet demand is slow due to weak demand in finished products.
“Raipur Billet is being quoted unchanged at Rs 33,800-900/MT
(Basic price) as trading volumes are decent,” said a trader from the city.
“Raigarh Billet is being offered at Rs 33,300/MT (Basic
price) with a marginal correction of Rs 100/MT. Demand is slow as buyers are
running short of funds and there is a frequent change in prices making buyers
undecisive. NCDEX and Mandi Gobindgarh price changes play a major role to
define the price fluctuation of Billet,” reported a broker from Raigarh.
“Kolkata and Durgapur
Billet prices remain same at Rs 38,400/MT (Including all) and 38,700/MT
(Including all) respectively. Demand is weak because of high input cost and
prices are not expected to correct in the near term,” remarked a trader from
the city.
“Hyderabad Billet price is stable at Rs 33,400/MT (Basic
price). Demand has improved and prices are anticipated to either stabilize or
move up. It is more than a weeks time that the prices had been falling,” remarked a trader in Hyderabad.
“Ahmedabad demand for Billet is decent on high trading
volumes. The stock gets sold out in total. As demand in finished is weak,
prices are expected to be stable in near term,” said sources.
“Kandla Billet prices fall by Rs 100/MT at Rs 35,300-400/MT
(Basic price) as demand is not coming up from importers,” quote market players.
Market players expect Billet prices to stabilize in near term.
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