Ingot prices corrected
over Rs 200-300/MT in major markets of India on extremely weak sales in re-bar and
structural steel. Prices fell up to Rs
400-500/t in cities like Muzaffarnagar and Ghaziabad.
In Mandi, Ingot is being traded in the range of Rs 34,650-700/t (Ex-works) and Raipur offers stand at Rs 31,600-700/t (Ex-works, next day payment).
Ingot in Rourkela is being quoted in
the range of Rs 30,600-700/t (Ex-Works). Whereas, Chennai price is at Rs
37,500/t (Including excise).
Most of the induction
furnaces are cutting production looking at weaker demand and high power cost.
Leave a Reply