Ingot prices across Indian remained stable with Hyderabad gaining Rs 500/t on improved demand and expected lift on mining ban on sand. Current ingot prices offered around Rs 33,000/t (Basic).
“Yesterday we sold 12mm tmt at Rs 36700 (Basic), but today we have increased prices by 500. We expect sand issue to resolve in couple of days. Demand is stagnant from past two weeks. Power issue might increase the prices further.” said a TMT manufacturer based at Hyderabad.
Ingot prices in south are also expected to move up in near term looking at improved demand and short supply of ingot and billet.
“There is some shortage in ingot, prices have gone up by 200-300 today and expecting further increase.” said a manufacturer based in Coimbatore.
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