Domestic prices for secondary steel billet in India increased by 1,200 rupees ($16) per tonne in the week to Friday October 23, mainly on account of an equal rise in the price of direct-reduced iron (DRI), which is the most widely used feedstock for making secondary billet in the country.
The price of steel billet, domestic, ex-works India, was assessed by Fastmarkets on October 23 at 31,300-31,500 rupees ($425-428) per tonne, up by 1,200 rupees per tonne from last week's assessment at 30,100-30,300 rupees per tonne.According to an official...