MS Ingot prices continue to maintain upward movement due to rise in power and freight charges effective from April. Major impact have been seen in southern region where power prices have gone up by almost 20%. Ingot prices at Hyderabad move up by Rs 600/t, currently trading at Rs 31,600/t (Ex-Works) amid hike in power prices.
Punjab electricity board has also proposed to increase its prices by 12.5% from present average per unit cost to Rs 5.5-6 to Rs 6.5-7.0. If the proposed hike is implemented Ingot cost may rise by Rs 600-700 per ton said market participants. Presently Ingot is trading at Rs 32500-550/t (Ex-Mandi Govindgarh) higher by Rs 200-300 per ton from previous close.
Leave a Reply