In the week opening, billet prices in Indian domestic market have gain momentum upto INR 1,500/MT (USD 22). Anticipated sharp price hike by large producers and prevailing positive sentiments led to surge in billet prices.
The manufacturers in Central, East & Southern regions reported that, on increased prices, trades are easily taking place without much pressure on the buyer.
However, in the Western India (Maharashtra) the suppliers added, purchasers are cautious over recent increase in productions of billet & rebar in the state. According to the sources, around 10-12 manufacturers in the state who has hot rolling mills and standalone billet plants, have increased operations from 12 hrs/day to 18-24 hrs daily basis.
Moreover, another major market in the region that is Gujarat reported bulk trades in billets.
Industry experts believe, semis prices will remain strong as demand is supportive and the effect of demonetization is on exit mode slowly.
Domestic billet prices as on 02 Jan’17
| Particular/Delivery | Size, Grade | Prices | D-o-D | W-o-W | M-o-M |
| Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 28,400 | + 600 | + 50 | + 2,500 |
| Ex-Raipur* | 125×125 mm, IS 2831 | 25,150 | + 850 | + 650 | + 2,850 |
| Ex-Rourkela | 125×125 mm, IS 2831 | 24,000 | + 250 | – 200 | + 2,700 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 25,000 | + 400 | + 400 | + 2,800 |
| Ex-Kolkata | 125×125 mm, IS 2831 | 25,400 | + 400 | + 400 | + 2,800 |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 26,750 | + 1,500 | + 400 | + 3,250 |
| Ex-Mumbai* | 100×100 mm, IS 2831 | 27,050 | + 900 | – 100 | + 3,150 |
| Ex-Goa | 125×125 mm, IS 2831 | 25,000 | 0 | 0 | + 2,400 |
| Ex-Chennai | 125×125 mm, IS 2831 | 25,300 | + 1,050 | + 400 | + 1,750 |
| Ex-Ahmedabad | 125×125 mm, IS 2831 | 27,150 | + 700 | + 150 | + 3,350 |
Basic prices in INR/MT
Source: SteelMint Research
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