Domestic billet market today have reported price movement of INR 100-500/MT across major billet producing regions like Central, East, South & Western India.
Manufacturers have mentioned that subdued demand has kept billet price volatile since beginning of the week.
Current offers for 100*100 mm billet in major markets are evaluated at INR 22,400-22,500/MT ex-Raipur, INR 22,200-22,400/MT ex-Durgapur, INR 24,000/MT ex-Mumbai, INR 24,500/MT ex-Hyderabad & INR 23,500-23,600/MT ex-Chennai.
In outlook market players are anticipating, prices to remain volatile looking at subdued trade works and less supply for the material.
Trade Updates
1. Durgapur based manufacturers are selling billet to Mandi Gobindgarh and offer price for billet are at INR 22,200-22,400/MT (ex-plant) and freight charges via road at around INR 2,300-2,400/MT.
2. On 30th Nov’16 Raigarh sold billet (100*100 mm) to Raipur at INR 22,200-22,300/MT FOR, similar offers were assessed today. Where as the manufacturers in Raipur are offering same grade material at INR 22,400-22,500/MT ex-plant.
3. Large manufacturers in Chennai (South India) have increased billet offers by INR 500/MT to INR 26,500/MT (including ED at 12.5%), ex-plant. As per sources no major trade have reported from this region due to hiked offers.
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