Billet manufacturers cut offers upto Rs 300/MT today in some of the locations.
A Raipur based trader said, Billet production is below 50% due to limited buying and also as some plants have gone into maintenance rather than selling at loss.
Whereas, another trader at Bhilai remarked on similar production level and that buyers were ready to make purchases at Rs 31,200.
“In Mandi Gobindgarh, production has reduced to 60%”, said a manufacturer.
It is heard that a new plant with two furnaces is to start commercial production soon in Bhilai, CG.
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