India: Billet prices in Goa likely to increase on supply shortage

Goa based renowned billet manufacturing units (having total production capacity of around 700 t/day) who are also merchant suppliers, have put their plants under maintenance shutdown, credible sources reported to SteelMint. This has resulted in supply shortage of billets in the local market leading to price hikes by other suppliers. Notably, Goa’s billet capacity is roughly around 1,800 t per day including both merchant sales as well as self-consumption, as per data maintained with SteelMint. Current offer for IF-route billet stands at INR 44,000/t DAP. However, there are only few buyers owing to limited demand in finished steel, sources reported.