Despite falling Billet prices in other part of the world, Indian prices remain more or less stable as manufacturers have reduced their production on the background of low conversion gap.
Weak demand for finished steel combined with higher raw material cost has bounded manufacturers to run plant on low capacities.
Currently, induction furnace manufacturers are offering Billet at INR 29,200-32,000/MT ex-works.
Lowest & Highest Trade Prices for MS Billet
|
Month |
Raipur |
Durgapur |
Mandi Gobindgarh |
|||
|
Lowest |
Highest |
Lowest |
Highest |
Lowest |
Highest |
|
|
Jan’14 |
29,500 |
30,700 |
29,800 |
31,100 |
32,800 |
33,800 |
|
Feb’14 |
30,300 |
30,950 |
30,300 |
31,000 |
33,800 |
35,000 |
|
Mar’14 |
29,800 |
30,550 |
30,400 |
31,000 |
34,000 |
34,900 |
|
Apr’14 |
30,650 |
32,200 |
30,700 |
32,700 |
34,400 |
36,000 |
|
May’14 |
31,600 |
33,050 |
32,050 |
34,900 |
35,300 |
36,900 |
|
Jun,’14 |
30,450 |
32,700 |
30,500 |
32,000 |
34,900 |
36,600 |
|
Jul’14 |
30,750 |
32,100 |
31,000 |
32,000 |
35,000 |
36,100 |
|
Aug’14 |
30,000 |
31,100 |
30,200 |
31,400 |
33,500 |
35,000 |
|
Sep’14 |
30,350 |
30,850 |
30,400 |
31,000 |
33,100 |
34,200 |
Basic prices in INR/MT
A trader based in Raipur said trades are taking place in the range of INR 30,600-30,700/MT (ex-Raipur) because of limited buying.
Some traders believe that cheap offers from China & South East Asian countries may put pressure on Indian Billet prices. It was also noticed that import of Billet/Blooms/Slabs has increased in last few months and steel plants located on coastal region are showing interest.
Import of Billet/Blooms/Slabs under Chapter 72
|
Product |
Country |
Jul’14 |
Aug’14 |
Sep’14* |
Total |
|
Billet/Slab (CH 7207) |
Indonesia |
|
9,234 |
45,784 |
55,018 |
|
|
United Arab Emirates |
4,007 |
11,500 |
14,000 |
29,507 |
|
|
Korea |
|
11,863 |
|
11,863 |
|
|
Netherlands |
|
1,308 |
|
1,308 |
|
|
Others |
1,600 |
1,100 |
2,000 |
4,700 |
|
Total |
|
5,607 |
35,005 |
61,784 |
102,396 |
*till 20 Sep, 2014
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