Market participants reported to have limited trade activities to be seen across major markets in near term. Prices are likely to remain range-bound and fluctuate by INR 100-200/MT till 28 Mar’16.
The prime reasons behind lethargic market are seems to be bank holidays, festive mood (Holi), financial year closing, labour shortage and no aggressive buying from end-users.
Today, billet market has remained firm with minor price fluctuation of INR 100-200/MT; offers hovering in the range of INR 21,000-25,700/MT. However, south market like Chennai has witnessed price rise of INR 400/MT.
Meanwhile, 78-80 FeM sponge offers have fallen by INR 200-300/MT and assessed within INR 10,800-14,000/MT.
Domestic semi finish prices as on 22 Mar’16
| Particular | Billet | D-o-D | C-DRI | D-o-D | P-DRI | D-o-D |
| Ex-Durgapur | 21,850 | -200 | 12,000 | -50 | 11,000 | -100 |
| Ex-Rourkela | 21,000 | 0 | 10,800 | -200 | NA | NA |
| Ex-Raipur | 22,100 | 0 | 12,850 | 0 | 11,500 | -150 |
| Ex-Bellary | NA | NA | 12,300 | -200 | 11,600 | -150 |
| Ex-Hyderabad | 24,500 | 0 | 14,000 | 0 | 13,400 | -100 |
Prices in INR/MT
Source: SteelMint Research
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