Indian billet exports remained low in the month of December owing to improved demand in domestic market.
Trade sources confirm that few deals of MS Billet (IS 2830) were done from Indian west coast at around USD 547-550/MT CFR Africa. Sources also mentioned that some deals were done from Indian east coast at around USD 505/MT FOB Vizag.
With competitive offers from Korea and CIS countries, Indian export prices have been under pressure. Last offer from Ukraine were heard at around US$ 500-505/MT FOB Black Sea.
In Indian domestic market, offers are holding firm in the range of INR 28,500-32,500/MT (Ex-Works) US$ 465-530/MT. Industry participant’s further mention that demand has improved in domestic market, after state assembly elections in four states.
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