Today, billet manufacturers in central & east India have increased their offers by INR 100-300/MT. However, offers in south & west India remain unaltered.
Current offers for 100*100 mm billet in the domestic market are assessed at INR 21,800-24,700/MT (USD 325-370) ex-works.
Manufacturers in central & east India mentioned that they are not willing to reduce their offers due to high input cost and lower selling price and are tussling with low margins. They further mentioned that mill operators are taking interest at current offers.
In last few weeks, Sponge iron, Pig iron and silicon manganese prices have increased significantly due to rising iron ore and coking coal prices. The respective products are considered as the key raw materials for production of ingot/billet.
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