Ingot markets have not shown any changes in its trading prices today due to poor finished markets.
Mandi Gobindgarh Ingot is being offered at Rs 35,850/MT (Basic price).
“There is a word in the street that Ingot prices in Raipur might come up to Rs 33,000/MT (Basic price), now being traded at Rs 32,800 (Basic price, payment next day) around the end of first week of this month and production is expected to cut down by 50% due to rise in power prices by around 20% in Chhattisgarh w.e.f 5th May 12,” reported a city based manufacturer.
“Hyderabad Ingot is same at Rs 33,500/MT (Basic price), the major reason being unavailability of labour due to which action in construction sector is less,” said a Hyderabad based trader.
“Ghaziabad markets witness good buying in Ingot that is quoted at Rs 36,000/MT (Basic price).
NCDEX SteelLong will open at 5 pm today.
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