Indian semis manufacturers cautious over price volatile and uncleared market directions.
Indian billet & sponge manufactures in few markets have raised their prices while in remaining parts of India it slightly down.
Today, billet offers in Raipur, Mumbai & in Hyderabad sharply increased by INR 800-1,200/MT on account of less number of sellers at previous (low) prices. However, according to sources, trade volume are not much healthy as buyers are skeptical over high volatile in prices. In Chennai, Ahmedabad, Durgapur offers slump down by INR 400-800/MT D-o-D.
Similar price movement have seen in sponge iron D-o-D, in Raipur offers surge by INR 200-500/MT due to the price rise in billets. In Rourkela & Bellary it remain unaltered. But Durgapur based manufacturers reduced price by INR 300/MT due to poor demand on curtail production by merchant Ingot/billet producers.
Billet & Sponge (C-DRI) prices as on 11 Nov’16
| Particular/Delivery | Billet 100*100 mm | D-o-D | C-DRI 78-80 FeM | D-o-D |
| Ex-Raipur | 22,800 | + 800 | 14,650 | + 250 |
| Ex-Durgapur | 21,500 | – 400 | 13,700 | – 300 |
| Ex-Rourkela | 21,200 | – 100 | 13,000 | 0 |
| Ex-Hyderabad | 24,750 | + 1,250 | 15,800 | – 100 |
| Ex-Mumbai | 24,500 | + 1,000 | – | – |
Prices in INR/MT
Source: SteelMint Research
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