Heavy structural steel prices in Raipur have declined again by INR 500/t ($7). The current offer for 150 mm channel stands at INR 52,500/t exw, down INR 1,500/t till now this week. Prices have decreased owing to dull demand for structural steel, as selling pressure has increased due to a sharp decline in sponge iron and billet prices. This has forced producers to cut offers, sources said.
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