On February 20, SteelOrbis reported Indian domestic induction grade billet offer prices at INR 33,500-33,700/mt ($472-474/mt) ex-Raipur.
Regional sources now inform SteelOrbis that the slightly higher offers were not sustainable and offers are now down to INR 33,200-33,500/mt ($467-472/mt), down $5/mt from the bottom of the previous range and $2/mt from the top of the same range.
USD = INR 71.03 (Feb 20)
USD = INR 71.05 (Feb 22)