Billet prices
go down further on account of low trading volumes in finished steel from last
three to four days.
“Raipur
Billet price is trading at Rs 33,600/MT (Basic price, payment next day), down
by Rs 200/MT. Buying is good but we do not expect prices to correct further,”
said a trader from the city.
“Hyderabad
Billet trades at same prices at Rs 34,250/MT (Basic price, payment next day). Demand
is good and prices are anticipated to stabilize at these levels,” said sources.
“Goa Billet is being offered unchanged at
Rs 33,900/MT (Basic
price, payment next day) and trading volumes are
low due to weak demand finished product. It is unpredictable if prices might
either correct or rise further,” said a Billet trader in Goa.
“Ahmadabad demand
for Billet is slow and it is being quoted at Rs 35,800/MT (Basic price, regular
payment condition) with a correction of Rs 200/MT,” remarked a trader in
Ahmadabad.
“Kandla Billet prices have increased by Rs 300/MT
at Rs 35,600/MT (Basic
price, payment next day). Traders expected
prices to correct but demand at lower levels has picked up,”said sources.
Market players anticipate Billet prices to
stabilize at these levels as further fall will result in quiet lower prices.
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