Domestic billet prices during May’16 driven down by persistent lack of demand in the market. On monthly average basis, prices have declined steeply by INR 900-1,200/MT.
In Mumbai, prices showed major corrections of INR 1,200/MT to INR 23,200/MT, followed by Raipur at INR 21,550/MT (-950). Prices in both Durgapur and Rourkela dipped by INR 900/MT; accessible at INR 21,750/MT and INR 20,850/MT separately.
During the month, prices in Raipur were at its highest level of INR 22,100/MT on 5 May’16 and lowest at INR 21,000/MT on 24 May’16.
In terms of finished steel, rebar prices also plunged down by INR 600-2,000/MT across all Indian market amid constant selling pressure on manufacturers. Major fall of INR 2,000/MT was reported in south India during the month, followed by central and east India (-900).
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 |
| Apr’16 | 22,650 | +350 | 22,500 | -150 | 21,750 | +250 | 24,400 | -50 |
| May’16 | 21,750 | -900 | 21,550 | -950 | 20,850 | -900 | 23,200 | -1,200 |
Prices in INR/MT
Source: SteelMint Research
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