Sources report that domestic DRI prices are trending up in India. After a price correction, India’s domestic DRI prices returned to an upward trend in November, December and now into early January. Sources inform SteelOrbis that offer prices are trending at INR 21,800/mt ($344/mt) ex-Raipur warehouse. A source stated, “While billet prices suffered a slight softness in the last week in December on holiday and end of year factors, billet prices are trending up again this first week in January pointing toward a positive sentiment in the market on a long-term perspective.”
$1= INR 63.44 (Jan 3)