Indian billet price drops $8 on weak demand, cheaper raw materials

Indian domestic prices for secondary steel billet have fallen by 600 rupees ($8) per tonne in the week to Friday September 25, with subdued demand resulting in fewer inquiries, in addition to a fall in the prices of raw materials such as direct-reduced iron (DRI).

The price of steel billet, domestic, exw India, was assessed by Fastmarkets on September 25 to be down to 29,000-29,200 rupees ($393-395) per tonne, compared with last week’s assessment at 29,600-29,800 rupees per tonne.

“Demand for billet has...

Published

Suresh Nair

September 25, 2020

17:40 GMT

Mumbai