Today, MS billet prices have surged by INR 200-600/MT as manufacturers in major markets especially Raipur and Durgapur had halted their sales yesterday. This in turn has resulted in some improvement in prices.
Current price movements across major markets are INR 21,500/MT ex-Durgapur, INR 21,000/MT ex-Rourkela, INR 22,100/MT ex-Raipur and INR 23,900/MT ex-Mumbai.
MS billet prices as on 18 Feb’16
| Particular | Prices | D-o-D | W-o-W |
| Ex-Mandi Gobindgarh | 25,500 | +500 | -400 |
| Ex-Durgapur | 21,500 | +400 | -900 |
| Ex-Rourkela | 21,000 | +450 | -800 |
| Ex-Raipur | 22,100 | +600 | -200 |
| Ex-Ahmedabad | 23,600 | +300 | -500 |
| Ex-Jalna | 24,000 | 0 | -600 |
| Ex-Mumbai | 23,900 | +200 | -500 |
| Ex-Chennai | 22,650 | -450 | -200 |
| Ex-Hyderabad | 23,500 | +500 | -500 |
Prices in INR/MT
Source: SteelMint Research
Key trade highlights
1. Billet buying has improved in Raipur from M.P, U.P and Maharashtra.
2. A billet maker in Duragpur reported to sell material today to Gobindgarh at INR 21,500-21,700/MT ex-plant.
3. Ingot/billet agents in Raipur mentioned that sales may improve in coming days as stock of the material in rolling mills is almost cleared. This may in turn increase semis demand again in the market.
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