Over weak trades, Indian billet prices fell steeply by INR 800-1,500/MT (USD 12-24) in the last couple of days.
Since the start of week, the trades are bearish in rebar which directly affected billet sales, hence prices has moved downward .
On outlook prospect, the standalone billet manufacturers from Central & East regions added, looking at tedious market trends globally, it seems that prices may remain under pressure as the selling pressure is mounting gradually.
Notably, due to bearish sentiments and weak steel futures, Chinese billet offers also reached at 5 month’s low level. The fresh export offers are assessed at USD 385-390/MT FOB. Whereas Indian offers are evaluated at USD 400/MT FOB.
Indian domestic billet prices as on 19 Apr’17
| Region | Particular/Delivery | Size, Grade, Origin | Prices | Change | W-o-W |
| North India | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 30,500 | – 300 | – 1,800 |
| East India | Ex-Durgapur | 125×125 mm, IS 2831 | 26,850 | – 150 | – 1,250 |
| Ex-Jharsugda | 125×125 mm, IS 2831 | 26,450 | – 150 | – 1,200 | |
| Ex-Kolkata | 125×125 mm, IS 2831 | 27,250 | – 150 | – 1,250 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 26,450 | – 150 | – 1,200 | |
| Central India | Ex-Raigarh | 125×125 mm, IS 2831 | 26,250 | – 250 | – 1,350 |
| Ex-Raipur | 125×125 mm, IS 2831 | 26,800 | – 250 | -1,500 | |
| West India | Ex-Ahmedabad | 125×125 mm, IS 2831 | 28,900 | – 400 | -1,400 |
| Ex-Bhavnagar | 125×125 mm, IS 2831 | 28,700 | – 400 | – 1,400 | |
| Ex-Goa | 125×125 mm, IS 2831 | 28,000 | 0 | – 1,000 | |
| Ex-Jaipur | 125×125 mm, IS 2831 | 29,600 | 0 | – 1,600 | |
| Ex-Jalna | 125×125 mm, IS 2831 | 28,500 | – 300 | – 1,200 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 29,000 | – 300 | – 1,500 | |
| South India | Ex-Chennai | 125×125 mm, IS 2831 | 28,450 | 0 | – 450 |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 29,000 | 0 | – 1,000 |
Basic ex-works prices in INR/MT
Source: SteelMint Research
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