“TMT price at Goa and Indore might reduce in the beginning of next week. There is no demand in Goa from South and in Hyderabad from Maharashtra. Local sales is almost nil in Goa and Mumbai”, said market players.
Manufacturers in Bangalore said about on going power cuts and that they are not aware as to when it will get resolved. Some plants are also shut due to maintenance reasons and price reduce by Rs 200/MT.
It is anticipated that further correction might happen in Guwahati. Manufacturers had no new bookings placed today and reduce offers by Rs 500/MT.
If market conditions continue to be similar in Ahmedabad next week, manufacturers say that they will be forced to cut production.
Market participants in Jalna say market is bad and rest depends on monsoons. Whereas, very limited trades are seen in Durgapur.
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