Indian Billet prices have corrected by almost INR 1,500/MT M-o-M. Current offers for commercial grade are hovering in the range of INR 29,000-30,700/MT ex-works.
Indian Billet manufacturers, which had raised prices by upto INR 500/MT in 2nd week of this month, have corrected their offers in 3rd week. Trade volume remains thin in the local market.
Commercial Billet manufacturers are tussling with low off-take as demand of finished products is not picking up since August onwards. Most of the manufacturers are operating at below 70% capacity because of high input cost and thin margin.
A broker based in western India (Mumbai) mentioned, “Rebar manufacturers are cautious to purchase the raw material (MS Ingot/Billet & Scrap), which in turn is affecting the market. Liquidity crunch is also one of the reasons behind stagnant sales in India.
Commercial Billet Offers in Domestic Market
|
Region |
Market |
Price |
Change |
W-o-W |
M-o-M |
| North India |
Mandi Gobindgarh |
32,700 |
– 200 |
– 200 |
– |
| East India |
Rourkela/Jharsuguda* |
28,800 |
– 50 |
0 |
– 350 |
|
Durgapur* |
29,750 |
– 200 |
– 250 |
– 550 |
|
|
Kolkata* |
30,050 |
– 200 |
– 250 |
– 550 |
|
| Central India |
Raipur* |
29,350 |
– 150 |
– 50 |
– 1,300 |
|
Raigarh* |
28,950 |
– 100 |
– 250 |
– 1,300 |
|
|
Bhilai* |
29,350 |
– 150 |
– 50 |
– 1,250 |
|
| West India |
Mumbai* |
30,600 |
0 |
+ 200 |
– 1,600 |
|
Jalna* |
30,100 |
– 200 |
– 200 |
– 2,000 |
|
|
Goa |
30,600 |
0 |
0 |
– 300 |
|
|
Kandla/Ahmedabad* |
30,200 |
0 |
– 100 |
– 1,600 |
|
| South India |
Hyderabad |
30,400 |
0 |
+ 100 |
– 600 |
|
Chennai |
30,700 |
– 900 |
– 900 |
– 1,300 |
Basic prices in INR/MT; ex-works
*Next day payment; rest all for regular payment (7-10 days)
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