Indian billet offers have improved today by INR 100-200/MT against last day trades. However yesterday, prices had touched to 6-month low as well as dipped to pre MIP levels. Market participants reported that anticipated extension of MIP has created positive sentiments in the market. As a result, buyers are taking interest at current offers.
Besides, trade sources reported that offers have increased but trades are yet not healthy as mills have sufficient stock of raw materials i.e ingot/billet.
Trade updates
1. Shyam Sel in Durgapur have increased billet offers by INR 300/MT to INR 19,400-19,500/MT.
2. Raipur based manufacturers reported that there is price variation of INR 100-200/MT between integrated plant’s offers and merchant billet manufacturers. For an instance, Monnet Ispat was heard to offer billet yesterday at INR 19,400-19,500/MT landed to Raipur. While, Raipur based units were offering the same material at INR 19,600-19,700/MT ex-plant. Today, offers have increased to INR 19,700/MT ex-plant.
3. Billet in Hyderabad is sold at INR 21,000/MT. Afterthat, manufacturers have increased offers to INR 21,200/MT. Deals haven’t took place at increased offers as per sources.
4. Bellary based manufacturers are offering billet at INR 20,800/MT ex-plant and mostly selling to Bangalore.
5. Mumbai based billet makers have increased offers to INR 21,200/MT; few material sold at INR 21,100/MT.
Indian billet prices as on 27 Jul’16
| Particular/Delivery | Size/Grade | Prices | D-o-D | W-o-W |
| Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 22,700 | 0 | -450 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 19,400 | + 50 | -400 |
| Ex-Jharsugda | 125×125 mm, IS 2831 | 18,800 | + 100 | -400 |
| Ex-Kolkata | 125×125 mm, IS 2831 | 19,800 | + 50 | -400 |
| Ex-Rourkela | 125×125 mm, IS 2831 | 18,800 | + 100 | -400 |
| Ex-Bhilai | 125×125 mm, IS 2831 | 19,750 | + 200 | + 50 |
| Ex-Raigarh* | 125×125 mm, IS 2831 | 19,300 | + 200 | – 50 |
| Ex-Raipur* | 125×125 mm, IS 2831 | 19,750 | + 150 | + 50 |
| Ex-Ahmedabad | 125×125 mm, IS 2831 | 21,900 | + 200 | – 100 |
| Ex-Bhavnagar | 125×125 mm, IS 2831 | 21,700 | + 200 | – 100 |
| Ex-Goa | 125×125 mm, IS 2831 | 20,300 | 0 | 0 |
| Ex-Jaipur | 125×125 mm, IS 2831 | 21,700 | + 500 | – 200 |
| Ex-Jalna | 125×125 mm, IS 2831 | 20,700 | 0 | – 600 |
| Ex-Mumbai* | 100×100 mm, IS 2831 | 21,150 | + 150 | – 650 |
| Ex-Chennai | 125×125 mm, IS 2831 | 21,850 | – 100 | – 700 |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 21,100 | + 100 | – 400 |
Basic prices in INR/MT
Source: SteelMint Research
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