Author: Sagar
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Indian DRI, billet and re-bar update – 23 May
India’s induction furnace (IF) steel market witnessed a sharp decline in prices as offers from the medium-sized mills collapsed by up to INR 4,500/tonne ($58) d-o-d, on 20 May. Sponge iron and billet prices dropped in the range of INR 200-4,500/t following a sharp correction of INR 4,500/t Gujarat’s billet market. Also, rebar (Fe 500)…