On October 10, SteelOrbis reported that Indian domestic billet offers decreased to INR 33,500-34,000/mt ($451-458/mt) ex-works Raipur.
According to sources close to SteelOrbis, billet offer prices in Raipur hit a bottom at INR 33,500/mt in the week-ended October 12 and is “relatively stable early this week with a slight positive optimism as the INR dropped below 74 per dollar.” Prices are stable at INR 33,500-34,000/mt ($457-464/mt) ex-Raipur, up $6/mt.
USD = INR 74.27 (Oct 10)
USD = INR 73.29 (Oct 16)