“Manufacturers in Hyderabad have raised Billet offers by Rs 400/MT to Rs 33,400/MT (Basic) but sales were closed at Rs 33,000/MT last.
Manufacturers are raising offers on assumptions such as industrial power supply expected to come down in near term.
Prices have less chances to sustain at current levels as buyers are making purchases in small quantities only.
By the end of this week, a correction of Rs 500/MT is anticipated as current offers is not absorbed by most of buyers”, said market participants.
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