In the week opening, the billet manufacturers in the domestic market have slightly changed their prices. Today, the prices in East India fell up to INR 150/MT while in South & Western regions it rose by INR 400-500/MT.
Analyzing the price movement in raw materials, sponge prices uptick by INR 100-250/MT d-o-d across India except Central region where it is unaltered against last day trades.
The fresh offers for Induction furnace grade billet are as follow – at INR 25,200-25,400/MT (-50) ex-Raipur, INR 24,500-24,700/MT (-150) in Durgapur, INR 23900-24,000/MT (0) ex-Rourkela, INR 28,000-28,100/MT (-150) in Mandi Gobindgarh, INR 27,400/MT (+400) ex-Mumbai, INR 26,500/MT (+500) ex-Hyderabad & INR 27,100/MT (0) ex-Chennai.
A Durgapur based billet manufacturer quoted “The coming festival of Holi may put pressure on us as rolling mills operation in general is closed for at least 2 days. However, as prices of raw materials are strong & global outlook is positive, we are not looking any major changes either in demand as it will sustain or decrease gradually” he added.
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