On August 30, SteelOrbis reported domestic Indian induction grade (secondary grade) billet prices in the Raipur (central east India) down at INR 35,500-36,200/mt ($500-510/mt) ex-works Raipur. Sources inform SteelOrbis that prices displayed volatility over the past week and have since declined to INR 35,300-35,800/mt ($498-505/mt) ex-works Raipur for the week ended August 31. Prices decreased $2/mt from the bottom of the previous range and $5/mt from the top of the same range.
USD = INR 70.97 (Aug 30)
USD = INR 70.94 (Aug 31)