Indian Billet offers fall upto USD 25/MT W-o-W owing to slow demand amid monsoon. Current offers are hovering in the range of USD 520-560/MT (INR 31,000-33,500/MT) on Ex-Works basis for Commercial grade Billet.
Billet prices shot up during mid of May, when the Supreme Court had suspended mining operations in Odisha. However, slow demand and off take from construction sector forced manufacturers to cut offers.
“Billet prices fell mostly in eastern region compared to western region. After ban in Odisha, people were speculative of shortfall in Iron ore supply. Whereas, western market which is largely dependent on Scrap had not impacted much,” said a Billet trader based in Chhattisgarh.
MS Billet Offers in Domestic Market as on 09 Jun, 2014
|
Region |
City |
Price |
Change |
W-o-W |
M-o-M |
|
North India |
Mandi Gobindgarh |
35,600 |
– 100 |
– 1,000 |
+ 300 |
|
East India |
Rourkela |
30,600 |
– 200 |
– 1,400 |
– 400 |
|
Durgapur |
31,500 |
– 100 |
– 1,300 |
– 800 |
|
|
Kolkata |
31,800 |
– 100 |
– 1,300 |
– 700 |
|
|
Central India |
Raipur* |
31,550 |
– 150 |
– 1,150 |
– 250 |
|
Raigarh* |
31,300 |
– 100 |
– 1,000 |
0 |
|
|
Bhilai |
31,400 |
– 100 |
– 1,150 |
– 200 |
|
|
West India |
Mumbai* |
33,000 |
0 |
– 150 |
– 400 |
|
Jalna |
35,700 |
0 |
+ 2,600 |
+ 2,500 |
|
|
Goa |
31,900 |
0 |
– 800 |
– 1,700 |
|
|
Jaipur |
33,850 |
– 50 |
– 750 |
– 50 |
|
|
Ahmedabad |
33,400 |
+ 200 |
– 200 |
0 |
|
|
Kandla/Ahmedabad* |
33,400 |
+ 200 |
– 200 |
0 |
|
|
South India |
Hyderabad |
33,000 |
– 500 |
– 500 |
– 1,000 |
|
Chennai |
33,500 |
0 |
– 300 |
– 1,700 |
Basic prices in INR/MT; next day payment
ED @12.36%; VAT as applicable
Note: USD 1 = INR 59.5
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