[SMM Steel] India Raipur Billet Market Pressured by Weak Demand

Published: Jul 21, 2026 15:06

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[India] Raipur’s billet index stood at 396 USD/tonne EXW. Rainfall and weak finished steel demand limited enquiries and transactions, prompting sellers to adjust offers to attract bookings. Rebar and sponge iron prices remained stable, while the wire rod market stayed soft. The sponge iron-to-billet conversion spread was around 147 USD/tonne, with sentiment remaining cautious.

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