Ingot Prices in Mandi Gobindgarh shows a slight improvement of Rs 50-100/MT, on account of power cut in this area. Power cut started in different areas of Punjab since Friday. Rolling mills had power cut for complete 3 days and induction furnaces had power cut for 4 days in a week. However, Ingot manufacturers based at Raipur sold billet to Mandi Gobindgarh at Rs 30,800/MT (Payment next day, FOR price).
Meanwhile, shortage of Ingot in Goa pushed buyers to purchase Ingot from Mumbai. Because of that Ingot prices in Goa remained firm. In fact prices moved up by Rs 500/MT in a month time, whereas Re-bar prices slashed by Rs 1,000/MT on basis of M-o-M change. However, in Maharashtra manufacturers are reducing production capacity due to low buying in local market. “At present units are running on 30-35% of their total capacity”, stated a Mumbai based manufacturer.
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