Indian billet prices reported another sharp price hike of INR 500-1,000/MT D-o-D & by INR 500-1,700/MT in week duration.
Improved demand amid prevailing positive sentiments, led to surge in Indian billet prices in short duration.
Billet manufacturers reported, traders also started inquiries & purchases for the material, which were kept on hold post demonetization of Indian currency.
Few other suppliers based in East & West regions mentioned, inquiries for exports is rising due to higher offers of Chinese suppliers.
In context to raw material, sponge prices also gained by INR 400-800/MT D-o-D & in week duration.
Billet Prices as on 19 Dec’16
|
Particular |
Prices in INR/MT |
D-o-D |
W-o-W |
| Ex-Raipur | 23,300 | +700 | +1,100 |
| Ex-Durgapur | 23,100 | +600 | +700 |
| Ex-Rourkela | 22,400 | +750 | +750 |
| Ex-Mandi Gobindgarh | 26,800 | +450 | +800 |
| Ex-Mumbai | 25,650 | +450 | +1,700 |
| Ex-Hyderabad | 25,000 | +1,000 | +1,400 |
| Ex-Chennai | 23,550 | +450 | +450 |
Basic prices in INR/MT
Source: SteelMint Research
SteelMint analyzed that, rising billet prices also increases the manufacturers conversion spread (P-DRI to Billet) in Dec’16 by around INR 500/MT to INR 9,000-9,500/MT in Raipur which was in the range of INR 8,000-9,000/MT in Nov’16.
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