On January 30, SteelOrbis reported domestic DRI prices in India at INR 20,000-20,500/mt ($314-321/mt) ex-warehouse in the southern Bellary and central Raipur regions.
Sources inform SteelOrbis that domestic DRI prices have softened further over the past week and offers are presently at INR 19,800-20,000/mt ($309-312/mt) ex-warehouse. The new range represents a decline of $5/mt from the bottom of the previous range and $9/mt from the top of the same range.
USD = INR 63.79 (Jan 30)
USD = INR 64.15 (Feb 6)