Indian domestic billet prices up by $19 per tonne in a week

Indian local billet prices have increased by at least Rs1,200 per tonne during the current week with prices of raw materials such as direct-reduced iron (DRI) reaching a three-year high.

The price rise in domestic billets got a further boost with increased buying by re-rolling mills. Prices for Indian domestic secondary billets, mainly produced through the induction furnace route, were assessed this week at Rs28,400-28,600 ($440-443) per tonne ex-mill. This was up by at least Rs1,200 per tonne compared with Metal Bulletin’s assessment last week at Rs27,000-27,400 per tonne ex-mill. “Sponge iron [or DRI] prices have increased sharply, to almost a three-year high. That is one of the...

Published

Suresh Nair

December 01, 2017

16:10 GMT

Mumbai