On April 6, SteelOrbis reported domestic DRI prices at INR 21,300-21,600/mt ($328-333/mt) ex-warehouse Raipur.
Sources inform SteelOrbis that prices on domestic DRI on June 19 are now trending at INR 20,000/mt ($293/mt) ex-warehouse Raipur (central India). DRI prices have decreased $38/mt compared to the early April average range of $331/mt.
In Durgapur (eastern India), though, domestic prices are reportedly on an upward trend at INR 22,200/mt ($326/mt) ex-warehouse.
A source noted that the eastern region has encountered a volatile price trend over the past 4 months with high price points on March 6 (INR 21,450/mt avg, $331/mt) and May 6 (INR 21,500/mt, $322/mt) with a dramatically low price point in between on April 6 (INR 17,900/mt, $276/mt).
USD = INR 64.86 (Mar 6)
USD = INR 64.91 (Apr 6)
USD = INR 66.83 (May 6)
USD = INR 68.20 (Jun 19)