Billet Prices Increase by INR 100-300/MT D-o-D in Central India

Central Indian billet manufacturers rose their offers by upto INR 300/MT D-o-D. However, prices have declined by INR 100-200/MT D-o-D in east and north India. Meanwhile, south Indian market remained stable.

Central Indian market has witnessed a price rise of INR 100-300/MT D-o-D. However, offers fell by INR 100-200/MT in east and north India. Meanwhile, there is no change in south market. Semis prices have been rising since 3 weeks amid the government awaited decision in context to Minimum Import Price (MIP) and safeguard duty.

Alongside, buying activities across major markets have also improved, leading to no inventory left with semi finish makers. However, few large billet makers in central and east India are not dealing in bulk quantities as they are waiting for MIP declaration in coming days.

It was heard from trade sources that Raipur based billet makers are selling to Jalna (Maharasthra) with freight charges via road at around INR 1,100-1,200/MT. It also learned that there is persistent shortage of billet and scrap in north India. Whereas, a large manufacturer in south India is trading billet (160*160 mm) to Maharashtra, which is not a regular activity.

Current MS billet prices with D-o-D changes

Prices in INR/MT
Source: SteelMint Research

Note: Day on Day (D-o-D) indicate change from previous day closing.