On August 7, SteelOrbis reported Indian domestic DRI prices trending up at INR 21,000-21,800/mt ($306-318/mt) ex-warehouse Raipur in east central India.
Sources now inform SteelOrbis that domestic prices for DRI have increased throughout the eastern side of India with prices in Odisha at INR 25,000/mt ($348/mt) ex-works. A source noted that prices in both the states of Odisha and West Bengal were trending at INR 25,000/mt ($347/mt) ex-works around September 6, but that they softened in the West Bengal area and are now reportedly at INR 24,000/mt ($334/mt) ex-works. A source noted that Raipur offer prices were trending at about INR 24,000- 24,500/mt ($334-341/mt) ex-warehouse. Compared to August 7, prices increased $28/mt from the bottom of the previous range and $23/mt from the top of the same range.
USD = INR 68.64 (Aug 7)
USD = INR 71.95 (Sep 6)
USD = INR 71.89 (Sep 20)