- Ingot prices in Hyderabad up by INR 1,500/MT (M-o-M)
- Ingot prices in Chennai & Bangalore up by INR 1,000-2,000/MT (M-o-M)
- Sponge iron prices in Bellary up by INR 500/MT (M-o-M)
Low availability of Scrap & Sponge iron have supported hike in Ingot prices in southern India, which is largely dependent on Scrap. Sources mention that with low imports of Scrap and increase in Re-bar prices have made Ingot & Billet manufacturers raise their offers by INR 1,000-2,000/MT on M-o-M basis.
South Market Ingot & TMT Prices (INR/MT) as on 23 Jan, 2014
| Place | Ingot | M–o–M | TMT 12 mm | M–o–M |
| Hyderabad | 31,800 | 1,500 | 35,300 | 1,200 |
| Chennai | 32,500 | 2,250 | 36,900 | 2,200 |
| Bangalore | 31,800 | 1,300 | 38,000 | 1,050 |
Basic Prices, Excise Duty @ 12.36%; VAT as applicable.
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