Mandi Gobindgarh considered as a benchmark market remains weak while prices in other market remain firm.
North India
Mandi Gobindgarh: Ingot offers declined by INR 200/MT in a week’s time owing to a festival starting from 25th in Mandi Gobindgarh (Punjab) which will last till 27th. In the period buying activity is expected to remain more or less same said a broker based in Mandi Gobingarh.
East India
Durgapur prices of ingot moved up on account of increased sponge offers by INR 300/MT and good demand from North India. Prices have increased slightly by INR 300/MT in W-o-W basis.
Durgapur SOLD its Billet in the range of INR 28,800-900 Basic Ex-Plant Durgapur (Freight @2,500-2,600/MT), which is cheaper when compared to prices of Ingot produced in Mandi Gobindgarh by INR 900-1,100/MT.
Central India
Raipur Prices have seen slight improvement with improvement in availability of Sponge Iron in the market. Market players are speaking about increasing Ingot prices as prices have improved by INR 300/MT in W-o-W basis. On the other side in Raigarh prices of the material have weakened by INR 200/MT.[su_quote] ‘’After a long time we have some relief, now situation is to produce and sell we don’t have any stock of Ingot/Billet, buying is good from local Re-bar manufacturers we are expecting market to remain supportive in coming days commented a ingot manufacturer based in Raipur’’.[/su_quote]
Billet produced at Bhilai is being SOLD at INR 30,600/MT delivered Jalna in CST basis, price offer of the material is cheaper nearly by INR 500/MT compared to local market.
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