Today, Indian billet market has opened with firm offers compared to Saturday trades. Meanwhile, offers in south India reduced after a week, increasing selling pressure have forced manufacturers to deal at lower prices. However, sponge offers remains strong despite falling billet prices.
Billet prices & Highlights
| Particular | Prices | D-o-D | W-o-W | Highlights |
| Durgapur | 19,500 | – 50 | -300 | As per trade sources few large manufacturers are active for billet supply to north India namely, Gagan Ferrotech, Supers smelters, AIC, Sova Ispat, Shyam Sel & Satyam Iron. |
| Rourkela | 18,800 | 0 | -200 | OCL Iron & Steel keep offers unchanged to INR 11,200/MT for C-DRI and INR 19,000/MT for billet ex-plant. The plant has reported scarcity for sponge iron in the region. |
| Raigarh | 19,100 | 0 | -200 | Mostly selling billet to Raipur at INR 19,500-19,600/MT landed to plant. |
| Raipur | 19,550 | 0 | -50 | Ingot/billet makers are planing to curtail production from 1st Aug’16. This may support billet prices soon. |
| Gobindgarh | 22,600 | – 150 | -500 | Manufacturers are anticipating prices to remains under pressure due to improved supply from east India and poor seasonal buying by Patra manufacturers. |
| Ahmedabad | 21,800 | 0 | -300 | Offers volatile since a week. As per manufacturers, billet prices seems to be under pressure on the backdrop of weak demand by rolling mills |
| Mumbai | 21,300 | – 100 | -450 | Price are under pressure as mill operator buying remain week. As per large suppliers rebar demand has to support this week to keep billet price level. In the previous week few small billet units shifted production in night hours only. |
| Chennai | 22,050 | – 150 | -450 | Since a week offers were almost firm, However today it reduced on the backdrop of declining prices across India |
| Hyderabad | 21,200 | – 300 | -300 |
Ex-works prices in INR/MT
Source: SteelMint Research
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