On March 28, SteelOrbis reported Indian domestic DRI prices down at INR 18,400-18,700/mt ($266-270/mt) ex-Raipur.
Sources inform SteelOrbis that prices are now reportedly at INR 18,900-19,100/mt ($271-274/mt) ex-Raipur, up $5/mt from the bottom of the previous range and $4/mt from the top of the same range. Additionally, prices in the eastern India region of Durgapur are noted as trending at INR 18,600-18,800/mt ($267-270/mt) ex-works, down $4/mt higher in comparison to the Raipur region. A source noted that prices in the Durgapur region “have been trending INR 500-1,000/mt lower in the past month compared to Raipur due to weaker export interest, lower domestic iron ore prices on lower grades, and softer regional demand.”
USD = INR 69.30 (Mar 28)
USD = INR 69.65 (May 21)