Semi finish prices today opened in weak sentiment pan India. MS Ingot prices were down by Rs 200-300/MT.
Sponge remain firm but pressure continue as demand is absent in present offer prices.
SteelMint learned that due to low demand 50-60% plants are running either in 20-30% capacity or have shut down their plants on account of maintenance.
“When demand is poor, manufacturer always prefer to shutdown the unit” said Sponge broker in Raipur region.
In Raipur, MS Ingot is sold at Rs 26100++/MT and Sponge is offered at Rs 18,500/MT (Basic, Payment Advance). Similarly, prices in Mandi, Mumbai and other places are down by Rs 300-400/MT.
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