On October 16, SteelOrbis reported Indian domestic induction grade billet offers at INR 33,500-34,000/mt ($457-464/mt) ex-Raipur, stable in INR terms but up slightly in dollar terms due to improved currency conditions.
Sources inform SteelOrbis that “inquiries and potential orders are gaining traction in mid-week” which are supporting firmer offer prices of induction grade billet prices in the Raipur region. Offers have reportedly improved to INR 34,000-34,500/mt ($463-470/mt) ex-Raipur, up $6/mt.
USD = INR 73.29 (Oct 16)
USD = INR 73.48 (Oct 17)