Extending the gains made in early sessions, billet prices closed substantially higher on February 6 as compared to the levels witnessed a week ago.
This followed a slide in the previous week when prices were down on lack of direction from any quarter and a poor lifting strength of buyers.
During the week under review, prices showed an uptrend since Monday and continued with the momentum till the market welcomed the news of imposition of MIT by the government.
Prices were up in the range of Rs 1,000 to Rs 2,300 per ton. Durgapur registered the highest gain of Rs 2,300 and was followed by Raipur (Rs 2,200), Jaipur (Rs 2,000) and Hyderabad (Rs 1,800). Prices were up by Rs 1,500 in Mandi Govindgarh.
Goa, however, showed a slight decline of Rs 100 during the week under consideration.
Rourkela, which witnessed the steepest decline of Rs 1,500 per ton a week ago, showed an impressive gain of Rs 1,700 per ton during the week ended February 6.
Following table gives indicative prices of billet in various market during the past one year:
NAME OF THE MARKET |
Price Rs./Ton as on |
Price Rs./Ton as on |
Price Rs./Ton as on |
Price Rs./Ton as on |
Price Rs./Ton as on |
6-Feb-16 |
30-Jan-16 |
7-Jan-16 |
12-Jul-15 |
7-Feb-15 |
|
MANDI GOBINDGARH |
24,700 |
23,200 |
24,200 |
28,100 |
30,000 |
DURGAPUR |
25,300 |
23,000 |
25,600 |
29,000 |
31,300 |
JAIPUR |
24,000 |
22,000 |
24,000 |
- |
- |
RAIGARH |
- |
- |
21,300 |
- |
- |
RAIPUR |
21,600 |
19,400 |
22,000 |
24,400 |
26,200 |
ROURKELA |
20,700 |
19,000 |
21,000 |
23,700 |
26,300 |
GHAZIABAD |
23,800 |
22,800 |
NA |
27,700 |
30,300 |
HYDERABAD |
23,000 |
21,200 |
23,500 |
25,300 |
27,500 |
GOA |
21,000 |
21,100 |
NA |
24,300 |
28,100 |
Source: Traders