On May 21, SteelOrbis reported Indian domestic induction grade billet offer prices at INR 31,600-31,800/mt ($454-457/mt) ex-Raipur.
Sources inform SteelOrbis that offer prices eroded throughout the week until May 28. In total, the offer prices declined about INR 400/mt ($6/mt) but have now rebounded to May 21 levels of INR 31,600-31,800/mt ($453-456/mt) ex-Raipur. Due to currency fluctuations, prices are $1/mt lower compared to a week ago.
USD = INR 69.65 (May 21)
USD = INR 69.77 (May 30)