MS Ingot prices remained stable on thin trading volumes prices at major physical markets moved lower as the day progressed on poor demand and liquidity crisis.
Prices at Mandi Gobindgarh traded mostly at Rs. 34,900/t during the day, Gaziabad markets witnessed trade at Rs.35,000/ t.
Jindal cuts power supply for Raigarh based induction furnaces due to maintenance from yesterday.
Power crisis deepens in Jharkhand, bringing ingot production further down.
Ingot prices in Chennai correct by Rs 500/t as monsoon hits south coast of India. Traders see slowing demand during monsoons.
Indian steel exchange NCDEX holds less than 2,500 tonnes of MS ingot at different warehouses.
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