Mining News -The Market witnessed an upward trend during the whole week, on Monday the price went up to USD 447/MT and reached USD 456/MT towards the end of week. Although scrap price was stable and didn’t witness much change in week 50. As per market sources, recently the nation has exported billet through tenders and bookings at around USD 490-500/MT. Because of high export demands, domestic billet price is also increasing. Also there is an increase in billet in domestic market and shortage in supply is there as producers are focusing more on export for better realization.

During week 50, the scrap price was hovering at around USD 346-347/MT, whereas Rebar price shoot up to around USD 509/MT. Difference between scrap and billet price was noted around USD 98-110/MT, owing to increase in billet price. On parallel line difference between billet and rebar price was around USD 53-57/MT, reduced by around USD 5-7/MT as compare to last week.