Indian local secondary billet ended the week at
Rs24,300-24,600 ($376-380) per tonne ex-mill, down Rs900
($14) per tonne compared with last week’s
assessment of Rs25,200-25,500 ($289-394) per tonne ex-mill.
Some billet manufacturers are considering reducing
production as they not making profits at the current price.
"It’s not only the low prices, but also the
falling sales volumes as major consumers like rebar producers
are making fewer enquiries and even...