Ingot at Mandi Gobindgarh is trading in the range of Rs 36,500-700/MT (Basic price). Traders expect prices to fall further and find resistance at Rs 36,000/MT.
“Sentiments
are weak on expensive scrap prices and falling rupee at 52.79/USD. Due to this
scrap imports have lessened. Impact on Scrap prices will be seen after around
15-20 days,” said sources.
Raipur
Ingot is being offered at Rs 32,800/MT (Basic price, payment next day), down by
Rs 100/MT while Raigarh is being quoted by Rs 300/MT less from last trade at Rs
32,800/MT (Basic price).
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