Tuesday, 02 August,
Ambiguity over the Supreme Court suspension for mining in Bellary, Hospet & Sandur region is keeping the Steel producers on their feet because of disturbed supply of raw material from the region, traders from the region believe that there is no complete ban on mining; some mining companies are allowed to mine the ores.
MS Ingot prices exhibits upwars trend; prices went up in the range of Rs 100/MT expect Raigarh and Mumbai where MS ingot prices went down by Rs 200/MT.
MS ingot at Mandi Gobindgarh traded Rs 32,300-32,400/MT i.e. up by Rs 50/MT from previous traded prices.
“We don’t see markets going up further from these levels. Buyers are not willing to pay higher for finished steel.” said a steel manufacturer based at Mandi Govindgarh.
From International markets, CIS Billet exporters have hiked the prices by $20-25/MT to $685/MT FOB for September production main reason cited for same is that most of the producers in the region have booked the orders for August production.
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