Since the beginning of week, domestic billet offers are volatile continuously by INR 500/MT.
Subdued trade activities in rebar have made volatility in Indian billet market.
Today, the offer price for Induction grade billet are assessed at INR 26,700-26,900/MT (-100) ex-Raipur, INR 26,600-26,800/MT (-100) in Durgapur, INR 26,000/MT (+100) ex-Rourkela, INR 28,700/MT (-100) in Mumbai & INR 27,800/MT (+250) ex-Chennai. The prices change mentioned are day on day basis.
In context to raw material, sponge prices are almost remained firm on day on day basis, which gain by INR 100-400/MT on 25 Apr’17.
The Industry participants mentioned, as the demand in rebar declined, the hot rolling mills started offering billet in the open market, which previously they used for their own consumption.
It is anticipated that, if finished steel sales remain stagnant, Indian billet producers might gradually cut the prices in near future.
Domestic Billet offers as on 26 Apr’17
| Region | Particular/Delivery | Size, Grade, Origin | Prices | D-o-D | W-o-W |
| North India | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 30,700 | – 200 | +600 |
| East India | Ex-Durgapur | 125×125 mm, IS 2831 | 26,700 | – 150 | +50 |
| Ex-Jharsugda | 125×125 mm, IS 2831 | 26,000 | + 100 | -300 | |
| Ex-Kolkata | 125×125 mm, IS 2831 | 27,100 | – 150 | +50 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 26,000 | + 100 | -300 | |
| Central India | Ex-Bhilai | 125×125 mm, IS 2831 | 26,800 | + 100 | +100 |
| Ex-Raigarh | 125×125 mm, IS 2831 | 26,300 | + 100 | +100 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 26,800 | + 100 | +100 | |
| West India | Ex-Ahmedabad | 125×125 mm, IS 2831 | 29,250 | + 50 | +450 |
| Ex-Bhavnagar | 125×125 mm, IS 2831 | 29,050 | + 50 | +450 | |
| Ex-Goa | 125×125 mm, IS 2831 | 26,500 | 0 | -1500 | |
| Ex-Jalna | 125×125 mm, IS 2831 | 28,050 | – 150 | -350 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 28,700 | – 100 | -200 | |
| South India | Ex-Chennai | 125×125 mm, IS 2831 | 27,800 | + 250 | -600 |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 28,500 | 0 | -500 |
Prices in INR/MT
Source: SteelMint Research
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