On May 9, SteelOrbis reported Indian domestic induction grade billet offer prices at INR 31,400-31,600/mt ($448-451/mt) ex-Raipur.
Sources inform SteelOrbis that offer prices have slipped in the past week and are now reportedly at INR 31,000-31,200/mt ($439-442/mt). Prices decreased $9/mt from both the top and bottom of the previous range. A source reported weaker Indian prices on global movements and volatility in domestic construction activity.
USD = INR 70.07 (May 9)
USD = INR 70.56 (May 13)