A bad week for Indian Billet market, offers shed over Rs 300-500/t in last six trading sessions. Seasonal slow down due to monsoons in India and falling global steel prices have put pressure, say experts.
Though industry experts believe that this is a temporary slow down and we can see substantial growth in steel demand and prices in medium to longer term.
“Scenario is just opposite to what it should be. High power cost and low production is not supporting prices. But, it might revive any time”, shared market participants.
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