MS Ingot price that was down by Rs 300-500/MT W-o-W now see limited downfall due to low production and constant demand. The manufacturer has reduced their production (up to 50-60%) to balance the demand and supply which also support Ingot price.
MS Ingot is offered in Raipur at Rs 27400-500/MT. Similarly price in Mandi Gobindgarh is offered at Rs 31800/MT which might see the fall of Rs 31500-700/MT due to the low price of Ingot supplied from Orissa (herd to offer at Rs 31500/MT)
MS Ingot supply in Maharashtra and West Bengal is also limited. Mumbai offer remains at Rs 29100/MT and Durgapur at Rs 27200-300/MT.
However Sponge price continues to remain under pressure due to falling Iron ore and Iron Pellet price. Similarly TMT offer also sees discount of Rs 200-300/MT in Raipur and Maharashtra due to low sale that has seen limited impact on MS Ingot demand due to production cut.
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