Ingot price at Mandi Gobindgarh is considered as benchmark for
Indian Long product prices. Offers at Mandi Gobindgarh increase by Rs 1,000-1,200/MT
in the last couple of days. Expensive imported
scrap, limited supply of domestic scrap and high sponge iron
prices were the reasons behind the sudden hike.
Volumes have been low on Tuesday. Ingot price at Raipur and Rourkela increased by Rs 300/MT and 500/MT
respectively.
Despite increase in ingot prices, re-bar demand still not very encouraging said market participants.
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