Ingot prices corrected further on Saturday morning when manufacturers felt pressure to clear electricity bills next week.Prices corrected over Rs 300/t.
Hyderabad Ingot prices corrected by Rs 1000/t to clear electricity dues payable on 09.06.12. Ingot offers are in the range of Rs 33000 (Basic) However sponge prices did not see any changes and are offered at Rs 21500-22000 (Basic) with limited buying sentiments.
Raipur market witness a fall of Rs 300/y from previous close and offers remained at Rs 32000-32100 (Basic). Sponge prices did not fall sharply as Ingot but buyers are not very keen to place orders. Price offered ex plant are at Rs 23000-23100/t (Basic).
Rourkela prices fell by Rs 500-700/t in a week's time, where as sponge prices firm at Rs 21500/t (Basic).
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