Ingot prices have
shown a downtrend at most of the places after Steel futures on NCDEX noticed
heavy selling. Steel long on NCDEX corrected over 350 points in the first half
and the most active contract of April was traded at Rs. 34,150/MT. Ingot at Mandi
Govindgarh is being offered at Rs 35,400/MT (Ex-works), down by Rs 300/MT.
The demand in Ingot
will pick up only after the end of the financial year. Prices are expected to
rise up in the first week of the next month only.
Raipur Ingot is trading with a correction of Rs 400/MT at Rs 32,200-300/MT (Basic prices,
payment next day) while that of Hyderabad has come down further by Rs 500/MT
at Rs. 34,800/MT (Basic prices).
34,430/MT with a fall of Rs 40/MT from yesterday’s close and dropped down
further by Rs. 320/MT at Rs 34,150/MT.
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