Ingot prices at Hyderabad went down drastically, as TMT manufacturers oppose unjustified hike of Ingot prices on account of power tariff hike.
Prices in Hyderabad were offered at Rs.33500/tonne (+excise+tax),that include power cost of Rs.1400/tonne till yesterday.
Re-bar association opposes this power charges that Ingot manufacturer levied on which Ingot manufacturers have reduced the base price. Presently Ingot is trading at Rs.33000++ (down by Rs.500-700 from previous day trade)
Manufacturer said, “We are under pressure to sell ingot as our production increases. Power shortage has also minimized to 1 day from previous 3 days cut in a week” He also added meeting is being schedule today to finalize the extra charges to be levied on Ingot on account of power price hike of 20% that was being announced on 1st April.
Prices in Hyderabad trading at Rs33000/tone (Ladle material) and Rs.32600/tone (without laddle), Basic price +Excise+Tax
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