On February 4, SteelOrbis reported that Indian domestic pellet offers were trending at INR 6,000-6,200/mt ($84-86/mt) ex-works Raipur and Durgapur.
Sources now inform SteelOrbis that prices have increased to INR 6,100-6,300/mt ($85-88/mt) ex-works in both regions. Ex-Durgapur prices encountered the largest gain in the past two weeks as a result of export support. Prices have increased by $1/mt from the bottom of the previous range and $2/mt from the top of the same range.
USD = INR 71.71 (Feb 4)
USD = INR 71.54 (Feb 5)