Viewing the today’s trade activities, we at SteelMint analyzed that billet market moved towards downward direction in pricing terms. A fall of INR 100-400/MT has been reported compared to last day trade in domestic market. Besides, demand is still seems to be subdued; leading to persistent pressure on the manufacturers.
However, South market has gained by INR 250/MT in a day.
MS billet prices as on 13 Jun’16
| Particular | Prices | D-o-D | W-o-W |
| Ex-Mandi Gobindgarh | 24,200 | 100 | 300 |
| Ex-Durgapur | 20,600 | -100 | 150 |
| Ex-Rourkela | 20,000 | 0 | 300 |
| Ex-Raipur | 21,000 | 50 | 0 |
| Ex-Goa | 21,700 | 0 | 300 |
| Ex-Jalna | 22,400 | 400 | -700 |
| Ex-Mumbai | 22,600 | 100 | 300 |
| Ex-Chennai | 22,200 | 250 | 500 |
| Ex-Hyderabad | 22,250 | 0 | 250 |
Prices in INR/MT
Source: SteelMint Research
Current trade dynamics
1. Gobindgarh (Punjab) based manufacturers are buying billet from Durgapur instead of Raipur due to cheaper prices and low freight by INR 200-300/MT.
2. RS Ispat based in Raigarh is offering billet at INR 21,100/MT landed to Raipur. While, Raipur based manufacturers are offering the same material at INR 21,000/MT ex-plant.
3. Hyderabad based manufacturers have reduced their offers in 2nd half today, following price corrections across India.
4. Jalna based manufacturers reduced offers by INR 400/MT in a day, following price corrections in rebar, which is due to low buying interest by mill operators.
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