Induction furnace producers of heavy structural steel in Raipur, central India, put a brake on rising prices by reducing offers by INR 500/t today. Current offers for 150 mm channel are at INR 66,500/t exw. Trade discounts in the spot market are at INR 700-1,000/t. Weak market sentiments and declining steel billet prices resulted in a marginal decline in structural steel prices.
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