Ingot offers stand at Rs 32,000/MT (Basic price) in Hyderabad from Rs 33,300/MT (Basic Price), quoted in the beginning of this month. Prices have corrected twice this week as power issues resolve, supply is good and also as Hyderabad Ingot prices generally correct after price reduction in North India.
12MM Re-bar prices also fall by Rs 1,500/MT due to poor demand from Maharashtra and local regions. Ingot prices seem to bottom out as Sponge Iron prices are not being quoting below Rs 18,800/MT, said an Ingot manufacturer.
Leave a Reply