“Billet offers in Chhattisgarh came down by Rs 200/MT as Ingot at major mandis' have also witnessed fall on Thursday.
Offers at Raipur, Bhilai and Raigarh came down to Rs 33,600/MT, 33,300/MT and Rs 33,400/MT (All are Basic price, payment next day) respectively.Trading volume in Raipur and Raigarh is decent but Bhilai markets are dull due to weak demand of finished material”, said sources.
According to market participants, demand might boost up as Billet price in Rourkela might come down by Rs 200-300 soon. Buying is in large quantities as sellers are offering material on bargains so that the unsold stock from last 15-20 days moves out.
In Hyderabad, demand is around 40%-50% only and production is also less”, remarked traders.
Jaipur price falls by Rs 300/MT trading at Rs 34,500/MT (Basic price, regular payment condition).
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