Billet market has not shown much of movement.
Market situation in few of the locations is as mentioned below:
Mandi Gobindgarh: Power cut for Industrial units has been announced for a couple of days. On account of this, a marginal rise in price might be seen.
Raipur: A big plant in the city sold 1,000 tons of the material. Buying volumes are good at current levels. Whereas, buyers in Raigarh are reluctant to make purchases.
Rourkela: Sellers raise offers and wait for buyers response at current price.
Durgapur and Kolkata: Buyers are purchasing material at current levels. Manufacturers are unwilling to reduce offers as some booking has taken place.
South: In Hyderabad, demand is getting poor as TMT is being offered at lower rates. Price in Chennai is anticipated to soften further. Market is ok and buyers wait for further direction trades with few trades happenning now.
Kandla and Bhavnagar: Demand is anticipated to improve if price rise by Rs 200-400/MT. Buyers are waiting to take decision according to fluctuation in offers.
Market players wait for further direction the next week to see some good buying volumes.
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