Today, Indian billet offers slightly increased by INR 100-200/MT despite thin trade activities. Rally in sponge offers influenced the rise in billet offers.
On 26 July, SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 25,300-27,600/MT (USD 392-428) ex-works, which was at INR 25,200-27,600/MT (USD 386-428) a day ago.
On weekly price trend, the billet offers increased by INR 300-800/MT (USD 4-13).
Key Updates
1. According to market participants in Gujarat, Western India small lots of billet exports are being concluded for South East Asian countries.
2. In the week opening SteelMint’s billet export prices assessment was at USD 435-440/MT FoB, surged around USD 10/MT W-o-W.
3. SAIL’s 15,000 MT Billet Export Tender drifts Indian Billet Export Prices to 30 Months High.
4. Compared to 1st week of the ongoing month, Conversion spread (margin) from P-DRI to billet declined approximately INR 1,000/MT to INR 10,000-10,200/MT in Raipur & Durgapur.
Indian billet reference prices as on 26 July 2017
| Region | Particular/Delivery | Prices | D-o-D | W-o-W |
| East India | Ex-Durgapur | 26,200 | + 100 | +700 |
| Ex-Rourkela | 25,300 | + 100 | +600 | |
| Central India | Ex-Raipur | 25,900 | + 100 | +200 |
| West India | Ex-Ahmedabad | 27,600 | 0 | +500 |
| Ex-Mumbai | 26,650 | – 50 | -50 | |
| South India | Ex-Chennai | 27,500 | 0 | +750 |
| Ex-Hyderabad | 27,000 | 0 | +500 |
Basic, ex-works prices & excluding of GST @ 18%
Source: SteelMint Research
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