Indian domestic prices for secondary steel billet tumbled by 1,900 rupees ($26) per tonne in the week ended Friday August 27 with the price of the key raw material, direct-reduced iron (DRI), dropping by 1,200 rupees per tonne.
The slide in billet prices through the week was driven by sluggish demand and fewer inquiries from buyers.The price of steel billet, domestic, exw India, assessed by Fastmarkets on August 27 was down by 1,900 rupees per tonne to 41,300-41,500 rupees ($557-559) per tonne compared with...