28
Apr
17:52
Indian billet export offers plummet on aggressive competition
The prevailing downward sentiment in the global market has forced bids for Indian billet exports down further. Indian mills were speculating over a hike in offers on the back of costlier scrap, but later accepted lower prices in negotiations, as scrap started slipping amid the influx of cheaper Russian semis into the market.
Prices for India-origin 3SP/4SP re-rollable grade induction furnace billet have dropped by $20-30/tonne on-week to $760-765/t fob India. A fe…
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Anonymous
Very good overview of the weekly steel market.
Anonymous