Billet offers show a downward trend owing to weak demand.
“Prices have come down in Chhattisgarh markets.
Selling pressure was built up on manufacturers because of bulk of stock.
Trading volumes are good at current levels and manufacturers feel some relief.
The gap in offers between ingot and Billet was around Rs 1,000-1,200/MT, which
has now reduced by Rs 400-500/MT”, traders reported SteelMint.
“Billet price in Hyderabad rise by
Rs 500/MT on account of indefinite power cut in Kothur Industrial region w.e.f
3rd June”, said the city based manufacturers.
“Sellers at Rourkela are unwilling
to take bookings at Rs 31,500-700/MT, but offer it at Rs 32,000/MT or above
on expectations of price rise in near term”, remarked a market participant.
Buyers are watchful in falling markets and have held
purchases.
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