Indian local secondary billet prices fell in the second week of October by about 100 rupees per tonne while demand for semi-finished steel products remained weak and the number of buyer inquiries dwindled further, Fastmarkets has heard.
The price for Indian domestic billet, which is mainly produced through the induction furnace method, was assessed by Fastmarkets on Friday October 12 at 33,200-33,400 rupees ($448-451) per tonne ex-mill.This was down by 100 rupees per tonne compared with last week's assessment at 33,300-33,500 rupee per tonne ex-mill."Prices are not sliding much," an official from a billet...