Indian domestic secondary billet prices have fallen over the past week by about 400 rupees ($6) per tonne, with demand for semi-finished materials remaining slack among finished product makers because of the early monsoon.
Metal Bulletin's price assessment for domestic secondary billet in India, mainly produced through the induction furnace route, was 37,000-37,200 rupees ($550-553) per tonne ex-mill on Friday June 8."There are fewer inquiries for billets from finished steel makers - mainly rebar mills - because they are facing a seasonal contraction in demand," an official from...