Restocking by rebar producers, coupled with increased buying by traders, has pushed Indian domestic secondary steel billet prices upward by at least 1,000 rupees ($14) per tonne over the past week, Fastmarkets heard on Friday January 25.
The Indian domestic secondary billet price assessed by Fastmarkets was 31,900-32,100 rupees ($449-452) per tonne ex-mill on Friday, up from 30,900-31,100 rupees per tonne ex-mill last week."Standalone finished product makers, mainly rebar mills, are restocking billets...