After correcting over Rs 1,000-1,500/t ($18-27/t), billet manufacturers in India, anticipate prices should find support at these levels. Current offers are in the range of Rs 28,000-30,000/t for commercial Billet at ex-works.
“There is no scope of further correction as most of the units are not even running at 60-70% of their capacity, above that imported scrap and Indian sponge prices should not fall from here. For short term prices should find support.” said a manufacturer based in Mumbai.
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