Indian billet prices recently underwent a sharp correction. The BigMint Billet Index fell to INR 41,300/tonne ($494/t) (Ex-Raipur), the lowest in the last three months. Prices closest to this level were last seen on 2 April, when the index had hit a low of INR 40,950/t ($490/t). Prices started rising thereafter to hit a peak of INR 45,550/t ($545/t) on 6 May but started dipping thereafter to fall to their current levels.
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