On February 21, SteelOrbis reported Indian domestic DRI prices at INR 20,500/mt ($288/mt) ex-Odisha. In nearby Raipur, Chattisgarh, sources now inform SteelOrbis that DRI was at INR 20,200/mt ($284/mt) ex-Raipur on February 21.
Presently, prices are reportedly at INR 19,700/mt ($277/mt) ex-Raipur and much lower at INR 18,500/mt ($261/mt) ex-Durgapur. A source noted that higher input costs may support prices and that domestic Durgapur DRI prices have declined on lower export offers.
USD = INR 71.18 (Feb 21)
USD = INR 71.01 (Feb 26)