On July 30, SteelOrbis reported that Indian induction or secondary grade billet prices were stable at INR 31,000-31,700/mt ($451-462/mt) ex-works Raipur (central east India).
Sources inform SteelOrbis that offer prices have begun to climb and are presently at INR 31,400-32,000/mt ($458-466/mt) ex-works Raipur excluding GST. The price has increased $7/mt from the bottom of the previous range and $4/mt from the top of the same range.
USD = INR 68.64 (Jul 30)
USD = INR 68.60 (Aug 2)