Weak trades have further affected Indian billet prices. On D-o-D, prices Fell by INR 100-300/MT. Industry participants added, trades are bearish over disturbed supply chain amid unclear market directions.
Today’s offer for Induction furnace grade billet reported – at INR 24,600-24,800/MT ex-Raipur, INR 24,700-24,800/MT in Durgapur, INR 23,800/MT ex-Rourkela, INR 27,100/MT in Mumbai, INR 26,000/MT ex-Hyderabad & INR 25,700-25,800/MT ex-Chennai.
Traders in Raipur & Durgapur who supply material to Punjab & U.P added that at current prices there is none viability to sell material from a state to another state. This in turn disturbed trade works.
Raipur, Durgapur & Rourkela are known as the bulk supplier of semis products across India. Usually, Raipur supply billet to Punjab, U.P, Maharashtra & A.P/Telangana. While, Durgapur & Rourkela based manufacturers get bookings from Punjab, U.P, Maharashtra, Rajasthan, Assam & Guwahati.
To supply material on these respected markets the price gap is required at INR 4,000/MT which is currently is in the range of INR 3,000-3,500/MT.
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