Ingot prices provide
relief to manufacturers in Raipur as they have shown an upward movement.
Raipur Ingot is offered at Rs. 32,500/MT (Basic prices, payment next day)
with an increase of Rs. 200/MT.
“Ingot was quoted at
Rs. 33,300/MT on the 16th of this month before the heavy fall. Prices had fallen badly and are again coming
back to upper levels. In the coming days, Ingot prices in Raipur are expected
to trade anywhere between Rs. 32,300-700/MT (Basic prices, payment next day),” said a trader from Raipur.
Indian Sponge Iron
prices had corrected over Rs. 900/MT. However, trading prices of Ingot came down
by much more. Apart from Raipur, other places such as Chennai, Bhiwadi and Mandi Govindgarh have not shown any sign of relief yet but are expected to
improve soon.
Ingot at Hyderabad and
Mumbai saw a rise in its trading prices by Rs. 500/MT and Rs. 400/MT at Rs. 34,800/MT
(Basic price) and Rs. 34,100/MT (Basic price, payment next day)
respectively.
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