India rebar and billet prices both rise

      Because of the steady growth in demand, semi-finished wood and iron ore and other raw material costs, India over the past week the domestic 28mm steel factory price rose about 1800 rupees ($28 / ton / ton), the newspaper in 2.85-2.89 million rupees (US $436-422 / ton / ton), or about 7%. A two grade screw steel mills said it is now the construction of the demand for the peak season, the demand for steel is usually evident in this period of time.

      Rebar prices also led to rising prices of billet. This week, India billet ex factory price of 2.7-2.73 rupees / ton (413-418 U.S. dollars / ton), up 1300 rupees / ton (about $20 / ton), the export price increase is basically at this level. However, the square billet producers said that due to the direct reduction of iron prices rose at least 1100 rupees / ton ($17 / ton), the price of steel mills less profitable. It is said that at present a southern steel billet export price of 425-440 U.S. dollars / ton (FOB), compared with February rose $20 / ton.