In the week opening day, manufacturers in major markets reported less inquiries on billets. Thus, offers slightly fell by INR 100-300/MT, D-o-D.
In context to raw materials, sponge prices also fell by INR 100-300/MT in central & east India following the price correction in billets.
Current offers for Induction furnace grade billet in domestic market are prevailing in the range of INR 21,200-23,700/MT (USD 315-355) ex-works. While, Sponge C-DRI (78-80 FeM) offers are at INR 13,000-15,700/MT (US$ 195-235).
Trade Updates
1. Shakti Ferro in Chennai is offering billet at INR 26,500/MT & rebar (12 mm) at INR 29,500/MT ex-plant; including ED at 12.5% and excluding CST/VAT.
2. Last week few deals have been concluded at Durgapur – selling billlet to Gobindgarh, at around INR 22,000/MT ex-plant; freight charges via road at INR 2,500/MT
3. Gujarat and Maharashtra based sources reported there is lull in trades of semis and so offers may come down.
Leave a Reply