Author: Rounak Gairarey

Indian induction furnaces conversion spread (margins) slumped near about INR 3,500-4,000/MT (USD 50-58) in last one month due to sharp fall in billet prices amid stability in sponge iron due to seasonal factors. Likewise the margins of Ingot/Billet producers also hit 3 month’s low, as per data maintained by SteelMint. As per data, at current…