Trading volume in a
few mandis' is low whereas market in South is showing signs of improvement.
Raipur and Raigarh: Markets remain dull. There are absolutely no buyers at
current levels. They wait to see further fluctuation in offers.
Rourkela and Jalna: Demand is stable at current levels.
Durgapur and
Kolkata: Billet price move up as demand from
Jharkhand i.e. witnessing power cut issues, comes in.
South: Demand for Billet improves as availability of Ingot is
low. Price is expected to move up further. Production has come down to 50% and
around 60% of the furnaces that are closed from 16th of May are anticipated to
remain shut till the end of this month.
Market situation is
expected to improve as rupee starts recovering from its lowest ever levels.
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