Prices for secondary steel billet in India surged by 3,600 rupees ($49) per tonne in the week to Friday February 19 on increased demand across the country and the likely continuation of power shortages in central India's major hubs for secondary steelmaking.
Fastmarkets' price assessment for steel billet, domestic, ex-works India, was up on Friday to 37,400-37,600 rupees ($514-517) per tonne compared with last week's assessment at 33,800-34,000 rupees per tonne."Manufacturers of finished steel...