Market for MS Ingot continued to show a downward trend on weak global sentiments. Indian share market also shed over 400 points on Monday.
Ingot at Mandi Gobindgarh remained flat at Rs.32,400-32,500 MT during the day. Similarly, Gaziabad market also witnessed trade at Rs.32,400/MT. Raipur, where Induction furnaces started operating after 4 days of closure also noticed a downfall in prices.
“Markets are not encouraging, high cost and poor demand is shrinking our margins. Liquidity is one of the major concern.”, said a steel trader based at Nagpur (Maharastra).
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