Semi finish price after a volatile week see support at present price level due to production cut. Furnaces (25 nos units) in Central India surrender the power load requirement to central electricity board. Semi Finish production to remain low along with low finish sale.
Mandi Gobindgarh (Punjab) that is considered benchmark of market sentiments, today slipped down by INR 200/MT that ignited bearish market trend in other market. However market sources says, “low production may hold the price in present level”
North India local semi finish sales remain low whereas same buyers prefer buying from Durgapur, Rourkela, Jaipur, and Raigarh as offers remain low by INR 500-700/MT from local manufacturer’s. Its also being learned few small scale rolling mill are under maintenance for 7-12 days that may keep buying low.
In raw material Scrap prices in Bhavnagar remain firm along with Ludhiana scrap market. However pressure in Sponge price clearly visible in Central India as furnaces surrender power load requirement. Raipur (Chhattisgarh) Sponge Pellet are presently consumed in North and West India.
Primary Re-bar manufacturer keep prices stable for Nov’13. Mumbai Re-bar prices show sign of improvement as price see sharp hike this week by INR 900/MT over last week. However other places prices remain in red.
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