Subdued demand from semi finish and finish steel markets has persistently kept MS ingot/billet manufacturers under pressure, leading to sharp price correction of INR 400-1,100/MT across major markets.
In last week of Aug’15, MS billet prices were traded at a 1-month high with price hike of upto 2,000/MT amid shortage of raw material in market and improved domestic sentiments.
However, now prices have hit a 2-week low with price correction of upto INR 1,100/MT owing to poor sales of finish long products in major markets.
Sources also mentioned that finish steel buyers are piling up inventories, leading to no buying activities in domestic market.
Current 125*125 billet price movements are – Durgapur at INR 23,750/MT (-450), Rourkela at INR 23,000/MT (-200), Raipur at INR 23,300/MT (-1,100), Mumbai at INR 24,900/MT (-700), Chennai at INR 23,850/MT (+50) and Hyderabad at INR 25,000/MT (0).
Leave a Reply