The overall economy in the country has impacted Billet market and manufacturers in Raigarh, Chhattisgarh have not offered Billet this week.
Offers at Raigarh slipped to Rs 29,700/MT (Basic) lat week on low iron ore and sponge prices. It's already time and Billet prices should start moving up now.
The last quarter is also anticipated to be better in comparison to the market scenario since the beginning of the year. Interest rates and GDP growth rates will definitely influence the steel prices and demand in India.
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