On July 19, SteelOrbis reported that prices for India’s domestic induction grade billet prices were receiving downward pressure and were reportedly at INR 31,500-32,300/mt ($457-469/mt) ex-mill Raipur (central east India).
Sources report that while prices have since continued in the same range of INR 31,500-32,300/mt ($457-468/mt) ex-mill Raipur (down $1/mt from the top of the previous range on currency fluctuation), more sellers are moving offers up within the range on a slight uptick in product interest.
USD = INR 68.88 (Jul 19)
USD = INR 68.95 (Jul 23)