Weak finished steel demand and rains keep MS Ingot prices under pressure. Offers are unchanged on limited buying.
In Mandi, Ingot trades at Rs 34,450-500/MT, at last week's level. Offers at Raipur, corrected by Rs 400/MT in a week's time, trading at
Rs 31,000/MT (Basic, next day) today.
“Conversion rate from Ingot to TMT is in the range of Rs 3,500-800 keeping Ingot prices under
pressure. Whereas, Sponge Iron offers remain at same levels unlike that of Ingot”, said an
Ingot manufacturer at Raipur. 
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