Indian billet in opening trades today have touched the price levels of INR 20,300-22,600/MT.; which was the same a month before on 9 Sep’16.
Domestic billet offers registered downfall of INR 100-400/MT D-o-D, INR 800-2,000/MT W-o-W & INR 500-1,000/MT M-o-M in across major Indian markets.
Trade participants mentioned, to get out of station (CST) bookings seeing that there are price competition between central and east based semis manufacturers, which leads to continue price falling. Transportation cost for billet and sponge is almost similar from central and east to north India.
Trade Bulletins
1. Raipur based manufacturers heard to offer billet to Mandi Gobindgarh at INR 20,600/MT ex-plant; freight charges at INR 2,500/MT.
2. Nepal based smelters are currently prefer Durgapur billet instead of Rourkela due to cheaper freight charges by around INR 600/MT and less voyage time on dispatches. According to sources, in current week few deals have concluded at USD 316-318/MT, ex-works.
3. A bulk billet supplier of Maharashtra reported, billet prices are anticipated to further fall due to piling up inventory levels in both billet and rebar.
5. Patnaik Steels in Odisha reported billet inquiries at INR 20,400/MT (ex-plant); few deals have been concluded at the same price to Mandi Gobindgarh, a official confirmed.
4. Sakhti Ferro a renowned manufacturer in south India have reduced prices; current offers for 100*100 mm billet is INR 22,500/MT ex-plant.
5. Hyderabad based Vaksh Steel has sold billet at INR 21,000/MT ex-plant.
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