Mandi Gobindgarh Ingot trades in the range of Rs 36,300-350/MT (Basic price), down by Rs 100/MT from last trade.
“Demand for Ingot is weak and prices are unexpected to show an uptrend in the near term. Trading volumes in the finished steel market is low as construction activities are less”, said a manufacturer based in Raipur.
Ingot at Raipur is being offered unchanged at Rs 32,500 (Basic price).
Ghaziabad is also same at Rs 36,400/MT (Basic price) whereas Chennai trades at Rs 38,500/MT (ED Included).
NCDEX Steel Long May 12 contract opened at Rs 34,430/MT, touched a high of Rs 34,480/MT and touched a low of Rs 34,230/MT. At 6:10 pm, it traded at Rs 34,350/MT.
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