* Poor demand from end-users
* Weak Rupee
* Expensive Raw material
* Poor availability of labor
* Power Cuts
“We kept thinking that the prices of Ingot and Finish product will not come down as raw material remains costly but that was not the case. We have lost a lot of trades as markets over the couple of weeks has come down by a couple of thousands”, said a trader based in West Bengal.
“Strength in dollar has made business difficult in Punjab. Expensive scrap has kept trades to only a handful. Soon, power cut shall also begin in Punjab”, said a manufacturer based in Gobindgarh.
“We are still not sure what is going to happen in the market. We don't expect prices to go down further nor do we think prices will improve before some demand picks up”, remarked a trader from Raipur.
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