MS Billet prices in most of the Mandis' do not show any fluctuation.
Raipur, Kolkata, Durgapur, Mumbai and Hyderabad: Billet trading price remain at same levels as to previous offers on decent trading volumes”, reported market participants.
Raipur: “Buyers are in a wait and watch mode and reluctant to take position at these levels. We expect a rise in price if demand from Tamil Nadu, i.e. facing power issues and a cut in production, comes in. Billet trades at Rs 33,500/MT (Basic price, payment next day) today”, remarked traders.
Mandi Gobindgarh and Rourkela: “Offers increase by Rs 300/MT to Rs 35,400/MT and Rs 31,700-800/MT (Both are Basic price, payment next day) respectively on improved demand in Rourkela where buyers continue to bargain and Induction
furnaces in Mandi Gobindgarh are on a three days strike w.e.f 15th May to
protest the hike in power tariff“, said sources.
Ahmedabad and Jaipur: Billet is being traded at Rs 35,200/MT with an increase of Rs 200/MT and at Rs 34,500/MT (Basic price, regular payment) respectively.
“A
handful of enquiries have come in today. Demand is still weak due to poor sales in finished steel products and less action in construction sector“, said an
Ahmedabad based trader.
Leave a Reply