Today, domestic billet makers have maintained their offers almost stable, with minor price correction of INR 100/MT in few markets. However, prices in south India have fluctuated by INR 400-500/MT; rose in Chennai (+400) but fell in Hyderabad (-500).
No or limited trade activities took place today seems to be major factor of firm prices across Indian market.
On the flip side, billet prices in Goa have slipped down by INR 700/MT to INR 22,300/MT on account of limited movement in finished steel market. Current 125*125 mm billet offers are witnessed to hover in the range of INR 21,300-25,300/MT.
MS billet offers as on 9 May’16
| Particulars | Prices | D-o-D | W-o-W |
| Ex-Mandi Gobindgarh | 25,500 | 0 | 0 |
| Ex-Durgapur | 22,500 | 0 | +250 |
| Ex-Rourkela | 21,300 | -100 | -200 |
| Ex-Raipur | 22,100 | 0 | +100 |
| Ex-Ahmedabad | 23,700 | -100 | -100 |
| Ex-Goa | 22,300 | -700 | -700 |
| Ex-Jalna | 23,800 | -200 | -200 |
| Ex-Mumbai | 23,700 | -100 | 0 |
| Ex-Chennai | 25,300 | +400 | 0 |
| Ex-Hyderabad | 23,500 | -500 | -1,000 |
Prices in INR/MT
Source: SteelMint Research
Major trade dynamics
1. Billet in Raipur landed to plant is available at INR 22,000/MT. Manufacturers are under selling pressure in the region.
2. Raigarh based billet makers mostly selling material to U.P at around INR 21,600-21,700/MT ex-plant.
3. Billet offers are similar in Mumbai, Jalna and Hyderabad at around INR 23,500-23,700/MT. This may put pressure on central Indian billet makers as they mostly sell billet to these markets in lesser quantities.
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