In current scenario, it seems that billet makers have got some relaxation amid expected imposition of safeguard duty on steel products. On D-o-D basis, prices have either stabilized or uptick by INR 100-200/MT across major markets.
Meanwhile, billet export offers in global market are also stable, except in China as offers here are falling and currently stood at USD 235/MT, FoB China.
In context to raw material, imported scrap prices have been firm in global market since 2-3 weeks due to pre-stocking amid winter and festive season. However, there is no buying in Indian domestic market. Stability in imported scrap offers have also supported billet prices in Indian market.
125*125 mm billet prices as on 10 Dec’15 are INR 20,100/MT ex-Durgapur, INR 19,500/MT ex-Rourkela, INR 20,450/MT ex-Raipur, INR 22,500/MT ex-Mumbai and INR 22,200/MT ex-Hyderabad.
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