Semis prices across India have plummeted by INR 1,500-2,200/MT in a month’s time. In-line, southern market has fallen by INR 800-1,500/MT in the same duration.
Viewing at declining semi finish prices across India, south based semis makers have also corrected their offers especially in Karnataka, Tamil Nadu and Telangana. However, buyers are still unwilling to take position and seeking material at cheaper rates.
MS billet makers in southern region mentioned that at present, they are reluctant to reduce their offers due to sharp price corrections in Chhattisgarh and Maharashtra. Odisha, Chhattisgarh and Maharashtra are the prime competitor markets for southern based semis makers.
Manufacturers trying to stabilize prices
Looking at healthy costing and cheaper selling price, most of the manufacturers are preferring to quote ‘sale close’ to maintain demand-supply chain. While, few are planing to put plant under maintenance mostly in central and south India.
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