On June 26, SteelOrbis reported the continued downtrend in India’s domestic billet prices. Indian induction-grade billet prices were reportedly at INR 34,700/mt ($508/mt) ex-mill Raipur.
According to regional sources, induction-grade billet prices ex-mill in the Raipur (central India) region are now reportedly at INR 35,200-35,500/mt ($514-519/mt). The price has increased by $6-11/mt despite the devaluation of the INR against the dollar. However, sources inform SteelOrbis that trade activity is limited.
USD = INR 68.37 (Jun 26)
USD = INR 68.46 (Jun 29)