Billet suppliers in the southern region of the country have not come across many takers of the semi finished material from the start of the week.
Manufacturers had to pull down the value of Billet by Rs 1,000/MT in a single day to Rs 31,400/MT, which was reduced by Rs 500/MT first and by the same again in late evening.
Sellers have been waiting for the real demand which is absent in the semi finished market.
Other than this, reasons are the same such as less money in the system, late payment issues and investment plans and also power problems.
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