Author: Romil Sethi
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India: Billet producers’ margins sink in August on moderate finished steel sales
In August 2022, the conversion spread from sponge iron (PDRI) to billet decreased by 6% in Raipur and Durgapur. In contrast, the conversion spread in July had increased by 5% in Durgapur and 2% in Raipur. According to data compiled by SteelMint, the average monthly conversion spread from sponge P-DRI (pellet-based DRI) to billets in…