On January 8, SteelOrbis reported Indian domestic induction grade billet offer prices at INR 30,800-31,000/mt ($439-442/mt) ex-Raipur. Prices in Mumbai for induction grade billet were reportedly trending slightly higher at INR 32,400-32,700/mt ($462-466/mt) ex-Mumbai. Sources now inform SteelOrbis that prices have taken a slow upturn and are reportedly at INR 31,000-31,200/mt ($440-443/mt) ex-Raipur, up $1/mt.
USD = INR 70.15 (Jan 8)
USD = INR 70.44 (Jan 10)