On July 10, SteelOrbis reported India’s domestic billet prices were receiving further downward pressure and were reportedly at INR 32,500-32,800/mt ($473-477/mt) ex-mill Raipur (central east India).
Sources inform SteelOrbis that prices have continued the downtrend and are now reportedly at INR 31,800-32,300/mt ($465-473/mt) ex-mill Raipur. Prices declined $8/mt from the bottom of the previous range and $4/mt from the top of the same range.
USD = INR 68.73 (July 10)
USD = INR 68.33 (July 12)