Billet buying was quiet limited and manufacturers cut down output by almost 50%.
Offers slipped as mentioned – South India Rs 1,000/MT, Ahmedabad Rs 800/MT, West Bengal Rs 600/MT, Maharashtra Rs 500/MT, Mandi Rs 400/MT, Chhattisgarh Rs 400/MT, Goa Rs 300/MT and Rourkela Rs 200/MT
Market was bad mainly due to rise of input cost, awaited projects, lack of cash flow, late payments and power problems.
In the next week, some of the rolling mills may opt to hold operations provided market scenario indicates no improvement.
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