Billet prices in Hyderabad rose by INR 2,500/t, with prices on an upswing since 27 May’21, as per SteelMint reports. Active demand and the rally in sponge iron prices, which went up by INR 2,000/t on week on higher iron ore and pellet prices, are providing support to billet prices. Rise in offers in the semi-finished steel market announced by plants based outside Raipur, Chhattisgarh, was a major factor contributing to price rise. Fresh trade for billet were reported at INR 44,000/t and offers have moved up to INR 44,200-44,300/t, exw.
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