“MS Ingot prices have bottomed out”- Traders

MS Ingot market continues to show a sluggish trend & prices have almost bottomed out says traders based at Mandi Govindgarh.

Ingot in Mandi Gobindgarh opened at Rs. 31,200/MT during the day, despite steel futures on NCDEX shed Rs 180/MT.

“Prices have bottomed out, there are buyers at Rs 31200/mt though sellers are quoting Rs 31300/mt. Prices might not go below this level.” said an Ingot trader based at MAndi Govindgarh.

Whereas, Raipur markets remain unchanged and witnessed trade at  Rs.29,000/ MT.