Alike Feb’16, the month of March was very volatile as prices had fluctuated persistently throughout the month amid festive season, fiscal year closing and limited trade activities. Monthly average price of Indian billet rose by 2-3.7% in Mar’16 against Feb’16.
Taking monthly average, prices in Durgapur increased to INR 22,300/MT (+800, 3.7%) from INR 21,500/MT. Similarly in Raipur, manufacturers had raised offers to INR 22,650/MT (+720, 3.3%) from INR 21,930/MT.
In the starting of the month, prices were under pressure, which recovered by INR 500-800/MT at the month end on the backdrop of 20% hike in power tariff in central India and improved buying in finished steel demand.
Monthly average billet prices with M-o-M change
| Month | Duragpur | M-o-M | Raipur | M-o-M | Rourkela | M-o-M | Mumbai | M-o-M |
| Apr’15 | 27,350 | -450 | 26,850 | -100 | 26,150 | -250 | 28,900 | 250 |
| May’15 | 25,750 | -1,600 | 25,700 | -1,150 | 25,050 | -1,100 | 27,700 | -1,200 |
| Jun’15 | 24,950 | -800 | 25,400 | -300 | 24,500 | -550 | 26,950 | -750 |
| Jul’15 | 23,750 | -1,200 | 23,750 | -1,650 | 23,000 | -1,500 | 24,600 | -2,350 |
| Aug’15 | 22,550 | -1,200 | 22,900 | -850 | 22,000 | -1,000 | 24,800 | 200 |
| Sept’15 | 23,900 | 1,350 | 23,700 | 800 | 23,100 | 1,100 | 24,750 | -50 |
| Oct’15 | 21,700 | -2,200 | 21,700 | -2,000 | 21,100 | -2,000 | 22,900 | -1,850 |
| Nov’15 | 20,050 | -1,650 | 19,950 | -1,750 | 19,250 | -1,850 | 21,750 | -1,150 |
| Dec’15 | 20,300 | 250 | 20,750 | 800 | 19,650 | 400 | 22,600 | 850 |
| Jan’16 | 21,050 | 750 | 21,200 | 450 | 20,550 | 900 | 22,850 | 250 |
| Feb’16 | 21,500 | 450 | 21,930 | 730 | 20,750 | 200 | 23,850 | 1,000 |
| Mar’16 | 22,300 | 800 | 22,650 | 720 | 21,500 | 750 | 24,450 | 600 |
Prices in INR/MT
Source: SteelMint Research
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