On Saturday, scrap prices inched up, while billet slide down by 10 IRR. Rebar was mainly reported stable from last Wednesday showing a weak start for this week. The difference between rebar and billet has returned to normal.
| Description | Price as on 09/11/17 | Daily Change | M-o-M | Y-o-Y |
| Average Scrap Price | 339 | 1 | 8 | 108 |
| Average Billet Price | 455 | (0) | (15) | 139 |
| Average Rebar Price | 520 | 0 | (8) | 147 |
| Difference between Billet and Scarp | 116 | (1) | (23) | 31 |
| Difference between Billet and rebar | 65 | 1 | 7 | 8 |
Price – USD/MT
Source: Planner
During mid-week billet price improved by USD 10/MT as size 150 mm reached USD 456/MT and size 125 became USD 451/MT ex-work including 9% VAT. Market insiders consider two reasons behind the upward trend including:
1-Limited supply level of DRI and scrap
2- Lower production level of billet due to lack of demand
Generally, some up and down fluctuations are expected in coming days for domestic billet market.
Inputs taken from Planner and IFNAA
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