“Steel prices in Indian domestic market correct marginally by Rs 200-300/MT, primarily on slow off take from consumers creating a liquidity crisis in the market. Traders and retailers do not want to stock in large due to uncertainty in steel prices. Chances are less that prices will show movement in short term”, said a TMT manufacturer based at East region.
At Durgapur 12mm TMT is traded at Rs 37,300/MT which decreased by Rs 200/MT (Basic price).
In North region Re-bar prices are fluctuating according to Ingot prices. At Muzaffarnagar 12mm TMT is traded at Rs 35,100/MT (Basic price) which increased by Rs 300/MT (Basic price) on increment in Ingot price.
Whereas Central market remain unchanged. TMT manufacturers from Raipur are quoting 20mm TMT at Rs 31,600/MT but trading at Rs 31,400 for the same.
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