Mumbai based Structure manufacturers reduced their offers by INR 400/MT in last couple of days. Offers dropped because of consistent low demand. 40 Angle traded at INR 35,000/MT on 8 October 2013. While Ingot offers remained unchanged and stood at INR 30,800/MT. In the meantime Billet offers registered a fall of INR 100/MT.
On the other side native manufacturers of Raipur offered a discount of INR 200-300/MT in the opening rates. Ishwar Ispat offered 40 Angle at INR 31,500/MT on 8 October 2013 while local offers were at INR 31,700/MT. However MSP Steels and Power Ltd raised their offers by INR 100-200/MT.
Ghaziabad's Structural market remained firm owing to slow buying and ongoing Navratri festivals. From over a period of two weeks, prices of Structure are invariable. Also Ingot offers are unchanged from a week's time. As on 8 October 2013 Channel 200 traded at INR 35,100/MT.
Market participants expect prices to remain stable at present. However, they predict that prices might witness hike after Navratri festival.
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