On September 12, SteelOrbis reported domestic Indian induction grade (secondary grade) billet prices in the Raipur (central east India) showing “confusion and volatility” as prices softened further to INR 35,300-35,800/mt ($491-498/mt) ex-works Raipur.
According to sources, domestic billet offers in the Raipur region sought to increase over the past week but are now at INR 35,400-35,800/mt ($491-497/mt) ex-works Raipur. In dollar terms, the price at the bottom of the range remained stable while the top of the range decreased by $1/mt.
USD = INR 71.94 (Sep 12)
USD = INR 72.04 (Sep 19)