Today, Indian semi finish market has witnessed good recovery as prices in major markets have risen sharply by INR 500-1,000/MT against the last day closing. Sponge iron prices have surged by INR 300-750/MT and billet by INR 400-1,000/MT across India.
As per media reports, it is heard that government has planned to come with some duty structure before the announcement of Budget 2016-17. This in turn has improved the buying activities in domestic market and supporting prices.
Besides, sharp recovery in central, east and west markets has also impacted south market especially Hyderabad where billet offers in just last 12 hrs have increased by INR 1,000/MT.
Few large sponge and billet makers from Raipur and Durgapur reported clearance of their inventory levels after receiving a few bulk deals at increased prices.
MS billet prices as on 2 Feb’16 (morning trade)
| Particular | Prices | Change |
| Ex-Mandi Gobindgarh | 23,400 | +600 |
| Ex-Durgapur | 20,000 | +400 |
| Ex-Jharsugda | 19,000 | +500 |
| Ex-Rourkela | 19,000 | +400 |
| Ex-Raigarh | 20,500 | +850 |
| Ex-Raipur | 20,650 | +700 |
| Ex-Ahmedabad | 22,200 | +400 |
| Ex-Jaipur | 22,700 | + 600 |
| Ex-Jalna | 22,700 | +700 |
| Ex-Mumbai | 22,600 | +600 |
| Ex-Chennai | 21,350 | 0 |
| Ex-Hyderabad | 22,000 | +1,000 |
Prices in INR/MT
Source: SteelMint Research
Leave a Reply