Billet prices in major Indian domestic market have inch up in the range of INR 100-500/MT (Upto US$ 8/MT).
Highest increase in billet prices of INR 800/MT was seen in Mumbai (Maharastra) owing to increase in power tariff by approx INR 1.00/unit, however hike in power tariff could not be confirmed by SteelMint.
Today, offers for 100×100 billet are assessed at INR 21,200-24,000/MT (USD 315-360) ex-works. Moreover, viewing to raw material price movement, sponge C-DRI prices also inch up by INR 100-200/MT to INR 13,100-15,500/MT (USD 195-230).
In context to conversion spread (margins), the billet manufacturers remain poise due to high input cost. Conversion spread from P-DRI to billet remains thin in Raipur, Durgapur & Rourkela at INR 8,000/MT which manufacturers expect at INR 8,500 to 9,500/MT. Recently Silico manganese prices also increases by INR 6,000-7,000/MT.
NINL Offers 1,400 MT Billet in Open Market:
Neelachal Ispat Nigam Limited is offering concast billet in the range of INR 21,400-22,800/MT; prices down by around INR 500/MT against last price of INR 21,900-23,100/MT ex-Cuttack, Odisha.
However, in domestic market of Odisha 100×100 mm commercial grade billet is available at INR 21,500/MT by leading large manufacturers. According to market participants, the plants offers are higher due to limited availability of material.
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