Ingot prices move down on selling pressure

Weak demand for re-bar and structural steels in India, ingot prices continued to remain under pressure.

Central India: Prices corrected over Rs 200-300/t and market participants expect limited correction further.It is also reported that NMDC might cut iron ore prices for July-Sep quarter.

East India: Prices remained under pressure and corrected over Rs 100-200/t, despite power crisis.

Northern India:Rumors of hike in prices kept prices firm, overall demand remained low.

South India:With low supply of raw material, semi finished prices move up in Hyderabad and Maharastra.