Billet prices in India have shown a resistance at these levels and corrected up to Rs 200-300/t on Wednesday.Indian steel futures corrected for 3rd consecutive day before expiry.( April contract expiring on 20th April)
Currently billet manufacturers at Raipur are quoting Rs 33,500-600/t (Basic).
Raigarh is being offered at Rs 33,000/t, Mumbai and Jalna corrected over Rs 200/t and are quoted at Rs 35,000 (Basic) and 33,900 (Basic) respectively.
Though industry experts feel that markets are nearing its bottom and revival might be seen soon.
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