Heavy structural steel prices in Raipur – a major supply centre for structural steel in central India – dropped by INR 500/ today. The current offer for 150 mm channel stands at INR 47,000/t exw. However, sellers are also offering trade discounts depending on buying enquiries and booking volumes. Notably, in the last couple of days, structural steel prices have declined sharply by INR 1,000/t. As per trader sources, the correction in steel billet prices, weak demand for structural steel in the spot market and rising inventories at mills have resulted in a drop in structural steel prices.
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