On January 16, SteelOrbis reported domestic DRI prices in India at INR 21,500/mt ($336/mt) ex-Raipur warehouse, which is in east central India. Sources inform SteelOrbis that domestic DRI prices in India have since softened. Prices in the Raipur region at the time were trending close to prices in south India.
According to a source, DRI prices in South India declined approximately INR 1,000/mt over the course of the past week and are presently around INR 20,500/mt ($322/mt) ex-Bellary warehouse in the Karnataka state of India. The change reflects a decline of $14/mt.
USD = INR 64.00 (Jan 16)
USD = INR 63.58 (Jan 24)