Indian local secondary steel billet prices have fallen by at least 800 rupees per tonne in the current week even as buyers await further corrections to the prices of semi-finished products.
Metal Bulletin's price assessment for domestic secondary billet in India, mainly produced via the induction furnace route, was 34,800-35,000 rupees ($517-520) per tonne ex-mill on Friday May 11. This was down by 800 rupees per tonne compared with last week's assessment at 35,600-35,800 rupees per tonne ex-mill."The fall in billet prices was...