Indian local secondary billet prices this week showed a slight fall of about 200 rupees per tonne week-on-week, with buyers staying away from the market and the number of inquiries to mills dwindling.
Prices for Indian domestic secondary billet, which is mainly produced through the induction furnace route, ended the week at 31,800-32,000 rupees ($497-501) per tonne ex-mill on Friday February 2. This was a fall of 200 rupees per tonne from last week's Metal Bulletin assessment at 32,000-32,200 rupees per tonne ex-mill."There were enough buyers at the beginning of the week, and prices were rising. Billet prices started falling toward end of the week when buyers held back from purchases, hoping for a...