Post continues rise in offers, billet prices in domestic market have started to move down amid less buying interest seen among mill operators.
Today, billet prices fell slightly by INR 100-300/MT across major markets. According to industry experts, ongoing festive season is one of the major reasons behind limited trades and enquiries in the market.
Today, billet offers reached at INR 20,300/MT ex-Raipur, INR 20,200/MT in Durgapur, INR 19,600-19,700/MT ex-Rourkela, INR 22,000-22,100/MT ex-Mumbai, INR 22,000/MT ex-Hyderabad and INR 22,600/MT ex-Chennai.
In outlook, despite poor trades, market players are anticipating slight prices fluctuation due to prevailing positive sentiments in the market amid strong raw material prices.
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