On August 16, SteelOrbis reported domestic Indian induction grade (secondary grade) billet prices in the Raipur (central east India) region increasing to INR 34,000-34,600/mt ($486-494/mt) ex-works Raipur.
According to sources, offers as this week begins have taken a slight step back and are now reportedly at INR 33,500-34,200/mt ($480-490/mt) ex-works Raipur. Prices declined $6/mt from the bottom of the previous range and $4/mt from the top of the same range.
USD = INR 70.02 (Aug 16)
USD = INR 69.86 (Aug 20)