Friday, May 20,
Anticipated power cuts at Mandi Gobindgarh are driving Ingot prices higher.* Ingot at Mandi Gobindgarh was quoted at Rs 31,200/MT in the morning session and prices moved up by Rs 200-250/MT later in the evening to reach Rs 31, 400-Rs 31,450/MT
Steel Futures on NCDEX was highly volatile. May contract opened at around Rs 28,730/MT; reached as high as Rs 29,200/MT before settling at Rs 28,900/MT i.e. up by Rs 160 from the previous close.
However demand for finished steel remains weak said sources.
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