MS billet makers are still under pressure and today reduced their offers by INR 100-400/MT on account of dull market sentiments. Moreover, trading activities have also remained sluggish.
Major price corrections are seen in Durgapur (-400), followed by Hyderabad (-300) and Raipur (-250).
Today’s billet trade
1. Billet offers in Raipur and Durgapur are similar at INR 19,700/MT ex-plant. Most of the deals concluded for Gobindarh and U.P markets.
2. Hyderabad based manufacturers are offering material at INR 21,500/MT, but buyers are demanding at INR 21,000-21,200/MT.
3. Offers in Jalna and Mumbai are similar at INR 22,000/MT. Manufacturers reported poor buying and offers may fall further.
4. Lowest offers are reported in Rourkela (Odisha).
Current MS billet prices with D-o-D and W-o-W
| Particular | Prices | D-o-D | W-o-W |
| Ex-Mandi Gobindgarh | 23,100 | -500 | -700 |
| Ex-Durgapur | 19,600 | -400 | -1,200 |
| Ex-Jharsugda | 19,100 | -100 | -1,100 |
| Ex-Rourkela | 19,100 | -100 | -1,100 |
| Ex-Raipur | 19,500 | -250 | -1,300 |
| Ex-Ahmedabad | 21,800 | 0 | -1,150 |
| Ex-Jalna | 22,000 | -200 | -500 |
| Ex-Mumbai | 21,850 | -150 | -950 |
| Ex-Chennai | 21,350 | -250 | -450 |
| Ex-Hyderabad | 21,200 | -300 | -800 |
Prices in INR/MT
Source: SteelMint Research
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