Following price rise trend in Dec’16, billet prices in Jan’17 have again increased by INR 1,000-1,800/MT, 4-7% (USD 15-27), M-o-M.
Prices gained momentum on the grounds of strengthen raw material prices and supportive demand for the product.
In the month of Jan’17, major price rise was seen in Mumbai and Ahmedabad (West India) up to INR 1,600-1,700/MT, following the price rise of INR 1,300-1,500/MT in Raipur and Durgapur (Central & East India). The similar price level was last seen in Jun’15 (19 month’s ago).
In terms of Indian export offers, it slightly changed from Dec’17 at USD 405-410/MT to USD 400-405/MT in Jan’17, FOB East coast.
On monthly average basis, Indian domestic billet prices during Jan’17 were assessed at INR 24,600/MT (+6.49%) ex-Raipur, INR 26,750/MT (+6.36%) ex-Mumbai, INR 25,400/MT (+6.72%) ex-Chennai & INR 27,900/MT (+4.30%) ex-Gobindgarh.
Monthly average billet prices since Jan’16
| Month | Durgapur | M-o-M | Raipur | M-o-M | Rourkela | M-o-M | Mumbai | M-o-M |
| Jan’16 | 21,100 | + 620 | 21,250 | + 300 | 20,550 | + 750 | 22,900 | + 150 |
| Feb’16 | 21,500 | + 400 | 21,950 | + 700 | 20,750 | + 200 | 23,850 | + 950 |
| Mar’16 | 22,300 | + 800 | 22,650 | + 700 | 21,500 | + 750 | 24,450 | + 600 |
| Apr’16 | 22,650 | + 350 | 22,550 | – 100 | 21,750 | + 250 | 24,450 | 0 |
| May’16 | 21,750 | – 900 | 21,550 | – 1,000 | 20,850 | – 900 | 23,250 | – 1,200 |
| Jun’16 | 20,600 | – 1,150 | 21,000 | – 550 | 20,100 | – 750 | 22,650 | – 600 |
| Jul’16 | 19,750 | – 850 | 19,900 | – 1,100 | 19,100 | – 1,000 | 21,450 | – 1,200 |
| Aug’16 | 19,650 | – 100 | 19,700 | – 200 | 18,950 | – 150 | 21,450 | 0 |
| Sep’16 | 21,150 | + 1,500 | 21,400 | + 1,700 | 20,750 | + 1,800 | 23,100 | + 1,650 |
| Oct’16 | 21,850 | + 700 | 21,700 | + 300 | 21,150 | + 400 | 23,150 | + 50 |
| Nov’16 | 21,600 | – 250 | 21,850 | + 150 | 21,050 | – 100 | 23,850 | + 700 |
| Dec’16 | 23,100 | + 1,500 | 23,100 | + 1,250 | 22,350 | + 1,300 | 25,150 | + 1,300 |
| Jan’17 | 24,600 | + 1,500 | 24,600 | + 1,500 | 23,750 | + 1,400 | 26,750 | + 1,600 |
Basic prices in INR/MT
Source: SteelMint Research
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