Billet offers in the country have either shown downward trend or remained unchanged today. Buyers wish to wait and watch the further
movement of prices.
Buyers at Raipur are reluctant to make
purchases at current offers and are asking for material at Rs 300/MT less on
account of Re-bar, the finished product which is being sold at lower
price.
They wish to buy material on
discount in Rourkela. Market should remain positive but as fluctuating offers
show no guidance for purchases, buyers are indecisive at current offers.
Billet offers in Jalna and Durgapur slip due to falling scrap prices in International market.
Manufacturers said about cost of production and raw material prices, that is
souring high in Hyderabad.
Overall activity of sales and purchases in Billet is not
happening in good volumes. Dull finished steel market accounts as a major reason
for low demand of the semi finished material. There is no stability witnessed
in offers from sometime and market at times seems to be unpredictable.
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