On January 24, SteelOrbis reported domestic DRI prices in India declined approximately $14/mt week-on-week with prices reportedly around INR 20,500/mt ($322/mt) ex-Bellary warehouse in the southern Karnataka state of India.
Sources inform SteelOrbis that DRI prices are presently at INR 20,000-20,500 ($314-321/mt) ex-warehouse in the southern Bellary and central Raipur regions. The price has declined $8/mt from the bottom of the previous range and $1/mt from the top of the same range.
USD = INR 63.58 (Jan 24)
USD = INR 63.79 (Jan 30)