On June 19, SteelOrbis reported domestic DRI prices trending at INR 20,000/mt ($293/mt) ex-warehouse Raipur (central India). Sources inform SteelOrbis that prices have fluctuated between INR 19,400-20,000/mt since then ($284-292/mt at an average exchange rate of INR 68.4 over the past month).
Presently, prices for domestic DRI are reportedly at INR 19,800/mt ($288/mt) ex-warehouse Raipur. Primarily due to currency fluctuations, prices have declined $5/mt compared to June 19. A source noted that prices are presently expected to “continue rangebound near INR 20,000/mt ($291/mt) for the upcoming month.”
Sources inform SteelOrbis that in the state of Karnataka (south central India), prices have declined from about INR 19,500-20,000/mt ($286-293/mt) on June 19 to INR 18,500/mt ($269/mt) today.
USD = INR 68.20 (Jun 19)
USD = INR 68.69 (Jul 26)