Author: Romil Sethi
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India: Conversion spread of billet makers falls to two-year low
In February 2024, the conversion spread touched a two-year low, echoing levels last seen in February 2022. India’s billet makers saw a 2% rise in conversion spread from sponge iron (PDRI) to billets in Durgapur, while Raipur witnessed a 1% decline during February 2024. BigMint data from February reveals average monthly conversion spreads of approximately…