Today Indian Secondary billet manufacturer reduced offers by INR 100-500/MT on bearish trend and gloomy future outlook over monsoon.
Current offers for 125×125 and 150×150 mm size are assessed in the range of INR 20,300-24,500/MT. Sharp fall seen in Chennai where price corrected by INR 450/MT as Billet traded at INR 22,200/MT. In a weeks time prices fallen by INR 900/MT in the region.
South India market participant reported manufacturer are worried as monsoon season begin and prices will fall further. However prices and demand in other major mandis’ remained firmed with marginal fall of INR 100-150/MT.
Current MS billet Prices with changes
|
Particulars |
Prices | D-o-D | W-o-W |
| Ex-Mandi Gobindgarh | 24,500 | -100 | -200 |
| Ex-Durgapur | 20,750 | -150 | -600 |
| Ex-Kolkata | 21,150 | -150 | -600 |
| Ex-Rourkela | 20,300 | -150 | -300 |
| Ex-Bhilai | 21,000 | 0 | -250 |
| Ex-Raigarh | 20,600 | -100 | -500 |
| Ex-Raipur | 21,000 | 0 | -250 |
| Ex-Ahmedabad | 22,600 | -100 | -150 |
| Ex-Bhavnagar | 22,400 | -100 | -150 |
| Ex-Goa | 21,400 | 0 | 100 |
| Ex-Jaipur | 23,500 | 0 | -100 |
| Ex-Jalna | 23,100 | 0 | 0 |
| Ex-Mumbai | 23,100 | 0 | 100 |
| Ex-Chennai | 22,200 | -450 | -900 |
| Ex-Hyderabad | 22,650 | -150 | 150 |
Prices in INR/MT
Source: SteelMint Research
Current Trade dynamics
1. Shiv Shakti Steel, a Hyderabad based merchant billet seller has reported demand is better post reduced prices by INR 300/MT to INR 22,500/MT (ex-plant).
2. Bhaskar Steel and Ferro Alloy is offering billet at INR 20,200-20,300/MT ex-plant, Odisha through CST billing.
3. Durgapur manufacturers is offering billet at INR 20,800/MT North India buying remain absent in the region No fresh deal herd in last 2 working days .
4. Raipur manufacturer reported local buying as hand to mouth at present price INR 21,000/MT.
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