Indian billet market has opened with a sharp price corrections of INR 100-400/MT. Major price corrections of INR 200-400/MT are seen in south and west regions owing to decline in scrap prices and lull trade activities. While in central & east, prices fell marginally by upto INR 150/MT.
Current offers for size 100*100 mm billet in domestic market are assessed at INR 19,200-22,900/MT ex-works.
Market Sentiments
Raipur: Most of the manufacturers have closed operations. Integrated plants are trading billet in the range of INR 20,000-20,200/MT ex-plant.
Durgapur: Large manufacturers are active to sale billet in the open market as export to Bangladesh is almost nil, post government imposed 20% import duty on billets. As a result, since last couple of months, billet prices have been reeling under pressure and trading similar to ingot prices. Today, offers for both ingot & billet are assessed at around INR 19,500/MT.
Rourkela: As per sources, billet exports resume to Nepal and Sri Lanka. In the last week, few deals were concluded by large manufacturers in the range of INR 19,300-19,500/MT ex-plant.
Mumbai: Post production cut, billet manufacturers are unable to find buyers as heavy rainfall has halted rebar demand in the local market. On D-o-D basis, billet offers down by INR 200/MT to INR 21,200/MT.
Hyderabad: Manufacturers in the last week had raised offers by INR 300-500/MT owing to increase in sponge prices in the region. However today, it has slumped by INR 400/MT as mill operators have put purchases on hold due to increased prices.
Indian billet prices as on 08 Aug’16
| Region | Particular/Delivery | Size/Grade | Prices | D-o-D | W-o-W |
| North | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 22,900 | – 300 | -100 |
| East | Ex-Durgapur | 125×125 mm, IS 2831 | 19,500 | – 150 | -200 |
| Ex-Jharsugda | 125×125 mm, IS 2831 | 19,200 | 0 | + 300 | |
| Ex-Kolkata | 125×125 mm, IS 2831 | 19,900 | – 150 | -200 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 19,200 | 0 | + 300 | |
| Central | Ex-Raigarh | 125×125 mm, IS 2831 | 19,600 | – 100 | + 100 |
| Ex-Raipur | 125×125 mm, IS 2831 | 20,000 | – 50 | 0 | |
| West | Ex-Ahmedabad | 125×125 mm, IS 2831 | 21,000 | – 300 | – 700 |
| Ex-Bhavnagar | 125×125 mm, IS 2831 | 20,700 | – 400 | – 800 | |
| Ex-Goa | 125×125 mm, IS 2831 | 21,000 | 0 | + 700 | |
| Ex-Jaipur | 125×125 mm, IS 2831 | 22,400 | 0 | + 500 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 21,200 | – 200 | + 50 | |
| South | Ex-Chennai | 125×125 mm, IS 2831 | 21,500 | – 50 | 0 |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 21,000 | – 400 | 0 |
Basic prices in INR/MT
Source: SteelMint Research
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