In a significant market movement, steel raw material prices in Raipur have surged by nearly ₹2,000 per metric ton, pushing rates above ₹38,000/MT in the last few days. This spike is clearly reflected in the 1-month billet index, showcasing a sharp upward trend.
🔍 Reasons Behind the Price Surge:
1. Low Availability of Raw Materials
- There’s been a notable shortage of coal, iron ore, and sponge iron, leading to constrained supply.
- The ongoing monsoon season has further disrupted mining and logistics, intensifying supply issues across central India.
2. Global Market Influence
- International prices of key inputs like coke and coal—particularly in China—have seen substantial hikes.
- This global uptick is cascading into the Indian market, driving domestic steel production costs upward.
3. Rising Export Demand
- Indian billets are witnessing robust export demand, especially from Southeast Asia and the Middle East.
- With more material being exported, domestic availability has shrunk, putting upward pressure on prices in the local market.
📌 Conclusion:
This sudden price surge is a result of converging domestic and global factors—tightened raw material availability, logistics constraints, and international demand. With market sentiment turning bullish, steel traders, buyers, and project planners are advised to closely monitor price movements in the coming weeks.
At Banke Tradecom Service Pvt Ltd, we continue to keep you informed with the latest trends and offer reliable supply of quality steel products across India.
About us-
At BTS, we stand out as the leading steel dealer in Raipur, Chhattisgarh and all over India. Our decades of experience, in-depth industry knowledge, and customer-first approach make us the preferred choice for all your steel requirements of various brands like SAIL, Tata, JSW, Jindal, JSPL, etc. We proudly deliver PAN India, ensuring timely and reliable supply wherever you are.
📞 Call us now to get a quote!
📍 Location: Raipur (CG)
📞 Phone: 07712292080 | 07415009930 | 07415009931
✉️ Email: sales@banketrade.in | steel@banketrade.in
🌐 Website: www.banketrade.in
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