MS billet prices in Indian domestic market continue to fall over weak demand and falling re-bar prices. Current offers are varying range of Rs 28,500- 30,500/t Basic Prices, Ex Plant.
Market participants mention that billet prices are falling as demand in re-bar is not encouraging. Despite hike in power prices manufacturers are unable to ask premium.
Only respite for manufacturers is scrap prices in global market have fallen a bit.
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