MS Billet prices in Indian market jumped up by Rs 200-300/MT on Friday after Steel Futures on NCDEX opened high and also on the news of power rate hike by 20-25% in Chhattisgarh.
“Hike in power prices are confirmed which might go up by 20%. This will add an extra cost pressure of Rs 400-500/MT on Billet making. We do not see prices falling down drastically but to stabilize at these levels,” said a Billet manufacturer based in Raipur.
Currently 125*123mm Billet in Raipur is being offered in the range of Rs 33,800-34,000/MT (Ex-works) where as Raigarh Billet is being quoted in the range of Rs 33,300-33,500/MT (Ex -Works).
“Billet prices in Jalna went down by Rs 600-700/MT and is being offered at Rs 34,000/MT (Basic price). Most of the rolling mills are under maintenance and demand is weak because of the closure of these mills,” reported a trader in Jalna.
Bilet prices at Mumbai move up to Rs 35,300/MT (Basic price) and Bhavnagar Billet is hovering at Rs 35,400/MT (Ex-Works).
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