Pricey Ingot coupled with a slight rise in offtake has lead to rise in TMT prices at major mandis. However, prices at mandis' in South continue to be unchanged.
Buyers in Kerela have held their purchases as monsoon is expected to hit Kerela by 1st week of June and they expect prices to correct further by end of this week or start of next week.
12 mm TMT in Hyderabad is quoted at the same level of Rs 36,500/MT and demand is very poor from the local market and also from the major consumer Maharashtra. Sand mining issue is still not clear in the local market and as a result construction activities are low.
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