Domestic billet offers fell by INR 200-600/MT day on day & up to INR 2,000/MT week on week.
Presently, domestic offers for Induction furnace grade billet are evaluated in the range of INR 24,500-29,600/MT (USD 382-462/MT) ex-works.
On daily basis, major price fall is seen in South India, Hyderabad & Chennai by INR 500-600/MT, While in the rest of markets it fell by INR 50-200/MT.
Weakening long steel sales as well lull exports are the major reasons for declining billet prices in the domestic market.
No Fresh Export Deals:
The renowned producer in Ahmedabad, West India & in Chennai, South India reported that in present time there in no inquiries from the global buyers which has increase supply to domestic market. The last export deals in the mid of Mar’17 by these sellers were assessed at around USD 410/MT for South East Asia.
The Indian billet exports are nil since Apr’17 as Indian currency appreciates and higher realizations in domestic market.
Domestic billet offers as on 3 May’17
| Region | Particular/Delivery | Prices | D-o-D | W-o-W |
| North India | Ex-Mandi Gobindgarh | 29,600 | – 50 | -1,000 |
| East India | Ex-Durgapur | 25,450 | – 50 | -1,100 |
| Ex-Rourkela | 24,750 | 0 | -1,250 | |
| Central India | Ex-Raipur | 25,600 | – 200 | -1,100 |
| West India | Ex-Ahmedabad | 28,550 | – 50 | -650 |
| Ex-Jaipur | 27,600 | 0 | -1,600 | |
| Ex-Mumbai | 27,300 | 0 | -1,450 | |
| South India | Ex-Chennai | 27,000 | – 600 | -800 |
| Ex-Hyderabad | 26,500 | – 500 | -2,000 |
Prices in INR/MT
Source: SteelMint Research
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