MS billet prices have been volatile by INR 200-500/MT since last 10-15 days amidst subdued demand from finish steel market and declining input cost.
The ongoing festive seasons have created liquidity crunch in the market, leading to lull buying activities. Moreover, weak global market has lent a negative direction to domestic market.
Major markets across India like Raipur and Durgapur have witnessed a sharp decline of INR 600/MT in a week’s time. Present offer of Chinese billet is around USD 275/MT, FoB. It is also to be noted that few deals to Bangladesh have been heard to conclude at USD 300-305/MT, CIF Chittagong Port.
Today, RINL’s export tender of 90,000 MT bloom/billet was closed.
Current MS Billet Prices with W-o-W
| Particular | Prices | Change | W-o-W |
| Ex-Mandi Gobindgarh | 26,900 | + 100 | – 400 |
| Ex-Durgapur | 23,850 | + 150 | – 550 |
| Ex-Rourkela | 23,000 | + 100 | – 600 |
| Ex-Raigarh | 23,450 | + 50 | – 850 |
| Ex-Raipur | 23,600 | + 100 | – 600 |
| Ex-Jalna | 24,400 | 0 | – 600 |
| Ex-Mumbai | 24,300 | 0 | – 850 |
| Ex-Chennai | 23,850 | 0 | – 150 |
| Ex-Hyderabad | 24,000 | 0 | – 500 |
Prices in INR/MT
Source: SteelMint Research
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