On July 23, SteelOrbis reported that offer prices for India’s domestic induction grade billet prices were reportedly at INR 31,500-32,300/mt ($457-468/mt) ex-mill Raipur (central east India) with sellers seeking to move offers up within the range.
Sources inform SteelOrbis that billet prices have declined and are now reportedly at INR 31,000-31,700/mt ($451-461/mt) ex-mill Raipur, down $6/mt from the bottom of the range and $7/mt from the top of the same range.
USD = INR 68.95 (Jul 23)
USD = INR 68.71 (Jul 25)