Ingot prices provide relief to manufacturers in Raipur as they have shown an upward movement. Raipur Ingot is offered at Rs.32,200/MT (Basic price, payment next day) with an increase of Rs.400/MT.
“Ingot was trading at Rs.31,800/MT (Basic price, payment next day) yesterday and was quoted at Rs.33,300/MT on the 16th of this month before the heavy fall. Prices had fallen badly and are again coming back to upper levels. In the coming days, Ingot prices in Raipur are expected to trade anywhere between Rs.32,300-700/MT (Basic price, payment next day),” said a trader from Raipur.
Indian Sponge Iron prices had corrected over Rs.900/MT. However, trading prices of Ingot came down by much more. Apart from Raipur, other places such as Chennai, Hyderabad, Rourkela and Mumbai have not shown any sign of relief yet but are expected to improve soon.
Ingot at Muzaffarnagar is trading at Rs.39,500/MT (Basic price) with an increase of Rs.300/MT from previous trade.
Ingot at Rourkela and Durgapur saw a fall in its trading prices by Rs.100/MT and Rs.300/MT at Rs.31,900/MT (Basic price) and Rs.36,800-900/MT (Including all) respectively.
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