On August 31, SteelOrbis reported domestic Indian induction grade (secondary grade) billet prices in the Raipur (central east India) down at INR 35,300-35,800/mt ($498-505/mt) ex-works Raipur.
According to sources, the price of induction grade billet has firmed up to INR 35,500-36,000/mt ($496-503/mt) ex-works Raipur. Despite the increase in domestic currency, due to the further currency devaluation, prices decreased $2/mt.
USD = INR 70.94 (Aug 31)
USD = INR 71.63 (Sep 5)