The recent billets export tenders floated by Indian primary mills have fetched weak responses, with tenders remaining unconcluded. Indian mills were expecting price levels at around $505-510/t, FoB. However, firm bids remained absent due to lower price levels in importing nations at around $505-515/t CFR Manila. However, with recent recovery in global scrap prices, global billets prices may firm up in the near-term.
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