Indian billet market has been firm since 2-3 weeks amid lull trading activities taking place in domestic market. Today, prices have corrected by INR 100-200/MT D-o-D in few markets, but remained stable in other markets. Current MS billet prices are hovering in the range of INR 20,450-23,200/MT.
Billet offers are almost similar in Raipur and Durgapur at INR 21,000-21,200/MT. Moreover, north India based buyers are preferring to purchase material from Durgapur amid cheaper freight charges.
Few Punjab based traders reported that they are buying billet from SAIL’s Burnpur unit at approx INR 20,000/MT ex-plant.
Meanwhile, selling pressure has increased on Raipur based billet makers on the backdrop of few bulk sellers in the market.
However, the manufacturers are still in wait & watch condition and hoping imposition of minimum import price in coming days. Market sources believe prices are likely to remain range-bound in near-term.
MS billet prices as on 21 Jan’16
| Particular | Prices | D-o-D | W-o-W |
| Ex-Mandi Gobindgarh | 24,150 | +50 | -100 |
| Ex-Durgapur | 21,000 | -150 | -500 |
| Ex-Rourkela | 20,450 | 0 | -550 |
| Ex-Raigarh | 20,900 | 0 | -600 |
| Ex-Raipur | 21,250 | 0 | -550 |
| Ex-Ahmedabad | 23,200 | – 250 | -800 |
| Ex-Jalna | 22,500 | – 200 | -200 |
| Ex-Mumbai | 22,800 | 0 | -200 |
| Ex-Chennai | 21,800 | 0 | 0 |
| Ex-Hyderabad | 22,000 | 0 | -1,000 |
Prices in INR/MT
Source: SteelMint Research
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