Billet prices in India fell further by Rs 200-300/t as buyers ask for more discounts. Falling steel prices in spot and futures markets have weighed upon the prices.
“Buyers look for further discounts of Rs 200-300/t from current levels, with falling steel prices sellers might consider some discount but downside is limited.As higher power cost and stable sponge prices will support prices.” said a broker based in Raipur, Chattisgarh.
Billet prices in South and Western India also kept firm, though trading volumes have been low.
Leave a Reply