Domestic steel billet price in India down $14 per tonne

Domestic steel billet prices in India continued to weaken further this week as a result of falling local finished steel and raw materials prices.

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...

Published

Suresh Nair

May 19, 2017

18:44 GMT

Mumbai