To maintain supply
demand ratio manufacturers are trying to hold production and Induction furnaces at Raipur, Rourkela and Hyderabad are operating
in 50% capacity.
Punjab, Orissa, Karnataka, Andhra
Pradesh and Chhattisgarh have increased their power tariff by 20%-25%. Increasing raw material price could not support Ingot price and cost of conversion is up by Rs 500-700/MT “, said manufacturers.
NCDEX Steel Long May'12 – June'12
contract witnessed spread and moved in the range of Rs 350-450/tons,
around 20 tons of OI is added to the contract bringing cumulative OI close to Rs
23,670tons. On
the Warehouse, 49 tons of Steel is remated from the warehouse, bringing total
steel deposited at Mandi Gobindgarh, Gaziabad, Raipur, Chennai and Mumbai at
2,914 tons.
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