Indian MS billet prices have remained volatile this week. Current offers are varying from INR 21,700-24,700/MT (ex-works). Raipur based manufacturers are offering 125*125 billet at INR 22,600/MT ex-works.
In Durgapur and Rourkela, offers are almost stable at INR 22,000/MT and INR 21,700/MT respectively. Currently, north India based producers prefer to buy from these markets owing to cheaper offers by INR 600-900/MT compared to Raipur.
On the other hand, prices in Maharashtra rose sharply by INR 600-800/MT last week owing to production curtailment by few secondary manufacturers. However, offers again came down to INR 24,200/MT (ex-Mumbai) and INR 24,000/MT (ex-Jalna).
Chinese billet export offers at USD 300/MT
Chinese billet export offers have remained stable at USD 300/MT, FoB Chinese main port, which is also equivalent to USD 325-330/MT, CIF India and USD 330-335/MT, CIF Bangladesh.
Leave a Reply