Billet sellers across India have been reducing offers on absolutely weak buying and as most of the rolling mills have lowered production capacity to 50%.
According to traders, “Though, a little buying was seen in the last week but in the first two days of the week, market has not met with any improvement in demand.
The major reason is no doubt the poor sales of finished steel products on the whole. Billet prices drop in the range of Rs 200-300/MT today in states such as Maharashtra, West Bengal and South India”.
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