MS Ingot prices continue to maintain upward movement due to improve Ingot buying from north India market. Major impact had been seen in central region where demand from Mandi Gobindgarh, U.P and Rajasthan improved. Ingot prices at Rourkela move up by Rs 400/t, currently trading at Rs 28200/t (Ex-Works) amid low inventory in the region. Similarly prices in Durgapur moved up by Rs 200-300/t as outstation demand improved.
Whereas Iron Sponge price in Raipur corrected by Rs 100-200/t (basic) as pellet sponge prices is available at low price. Iron ore sponge fines last traded at Rs 19700/t (basic) whereas pellet sponge is available at Rs 18500/t (basic).
Domestic scrap prices in Mumbai is trading stable at Rs 22700 whereas imported HMS offer from Dubai quoting $405.
Raipur 12 MM TMT is trading stable at Rs 33600/t (basic), Mumbai TMT is trading at Rs 35000/t higher by Rs 200/t and Muzaffarnagar TMT is trading at Rs36500/t higher by Rs 300/t over yesterday traded price.
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