Author: Kameshwar Rao
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India: Steel prices under cost pressure; Demand remains cautious in South India
Sponge iron prices in Bellary decreased by INR 200-300/t w-o-w Chennai billet prices stable despite higher production costs Raw material movement : Sponge iron prices in the Bellary cluster declined by around INR 200–300 per tonne week-on-week due to weak buying interest from steel smelters. Demand from Western India buyers, who usually procure material in…