On September 14, SteelOrbis reported Indian domestic pellet offers up at INR 9,800-10,100/mt ($136-140/mt) ex-works Raipur.
Sources inform SteelOrbis that prices dipped slightly in the past few days and are now reportedly at INR 9,300-9,600 ($129-134/mt) ex-works Raipur. Prices declined $7/mt from the bottom of the previous range and $6/mt from the top of the previous range. A source noted that the correction “may only be temporary as outlook is positive but prices had not reached that height since mid-June 2012 and the currency movements have added uncertainty to the economy.”
USD = INR 71.93 (Sep 14)
USD = INR 71.89 (Sep 20)