Indian billet market has witnessed some recovery today compared to last day closing despite sluggish domestic demand, reported by finish steel participants. Major price hike is seen in Ahmedabad (+600), followed by Durgapur (+350) and Raipur (+300).
In contrast to billet prices, sponge prices have risen marginally by INR 100-200/MT.
MS billet prices as on 12 Jan’16
| Particular | Prices | Change |
| Ex-Mandi Gobindgarh | 24,000 | +200 |
| Ex-Durgapur | 21,500 | +350 |
| Ex-Rourkela | 20,900 | +250 |
| Ex-Raipur | 21,550 | +300 |
| Ex-Ahmedabad | 24,100 | +600 |
| Ex-Mumbai | 22,800 | +100 |
| Ex-Chennai | 22,250 | 0 |
| Ex-Hyderabad | 22,000 | 0 |
Prices in INR/MT
D-o-D: Price change compared to previous day closing.
Source: SteelMint Research
Trade-wise
1. A Raipur based billet maker today opened price at INR 21,600/MT after closing yesterday at INR 21,300/MT.
2. A Raigarh based leading manufacturer, RS Ispat traded billet at INR 21,000-21,100/MT to UP based smelters.
3. Gujarat based billet manufacturers increased offers due to rise in raw material (scrap) prices.
4. In Durgapur, few deals for billet in the local market concluded at INR 21,500/MT in the opening hours today.
5. In Odisha, cheaper offers in the range of INR 20,800-20,900/MT are being provided by billet manufacturers in order to attract buyers mostly based in north-east region.
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