Billet offers across India are hovering around 10-months low due to sluggish demand in structural steel and re-bar as construction activity remains low during monsoons.
Falling steel prices across the globe is another factor weighing on weak demand, according to market sources.
These levels were seen in September last year when M.S. Billet was being traded at Rs 30,700/MT, Sponge Iron at Rs 22,000/MT and Re-bar in the range of Rs 33,400-500/MT (All prices are Ex-Works Raipur).
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