On July 1, SteelOrbis reported Indian domestic induction grade billet offer prices at INR 28,500-28,900/mt ($414-419/mt) ex-Raipur.
Sources inform SteelOrbis that offer prices decreased in the past week on weak demand and are now reportedly at INR 27,000-27,500/mt ($394-401/mt) ex-Raipur. Prices decreased $20/mt from the bottom of the previous range and $18/mt from the top of the same range.
USD = INR 68.91 (Jul 1)
USD = INR 68.58 (Jul 8)