Viewing the overall scenario, it seems that Indian billet manufacturers are still reeling under persistent pressure. Today, domestic billet market has opened with price corrections of INR 100-200/MT against the previous day closing.
The prime factors of such decline in prices are continuous holidays in banks on the eve of Republic day (including weekends) and constant demand worries in finished steel market.
Current offers for MS billet are prevailing in the range of INR 19,950-22,500/MT and ingot within INR 19,900-22,300/MT.
MS billet prices as on 25 Jan’16
| Particular | Prices | D-o-D | W-o-W |
| Ex-Mandi Gobindgarh | 23,600 | -100 | -200 |
| Ex-Durgapur | 20,400 | -200 | -550 |
| Ex-Jharsugda | 19,950 | -200 | -550 |
| Ex-Rourkela | 19,950 | -200 | -550 |
| Ex-Raigarh | 20,300 | -100 | -700 |
| Ex-Raipur | 20,550 | -50 | -800 |
| Ex-Ahmedabad | 22,500 | -100 | -600 |
| Ex-Jalna | 22,500 | 0 | -200 |
| Ex-Mumbai | 22,500 | -250 | -400 |
| Ex-Chennai | 21,800 | 0 | 0 |
| Ex-Hyderabad | 21,500 | 0 | -1,000 |
Prices in INR/MT
Source: SteelMint Research
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