On January 3, SteelOrbis reported domestic DRI prices in India were on an upward trend, with prices reportedly at INR 21,800/mt ($344/mt) ex-Raipur warehouse in central India.
According to sources, prices encountered a slight correction in the first week of January, dropping by INR 500-600/mt, but began to rebound this week. Prices are now reportedly at INR 21,500/mt ($336/mt) ex-Raipur warehouse.
USD = INR 63.44 (Jan 3)
USD = INR 64.00 (Jan 16)