On September 20, SteelOrbis reported Indian domestic pellet offers up at INR 9,300-9,600 ($129-134/mt) ex-works Raipur. With early September prices reaching a six-year high, prices were expected to receive further correction as buyers resisted. On September 26, SteelOrbis has been informed that domestic pellet offers trended lower and are now at INR 8,900-9,100/mt ($123-125/mt) ex-works. Prices declined $6/mt from the bottom of the previous range and $9/mt from the top of the same range.
USD = INR 71.89 (Sep 20)
USD = INR 72.58 (Sep 26)