Prices in the South most markets of India – TamilNadu and Kerela have been more or less stable (more on the semi-finished front) with only handful of trades happening across the retail counters.
'Aadi-masam' in TamilNadu, Karkidaka-masam in Kerela is the month wherein people do not venture into new tasks or new construction. In older times, this one month was also to relax during rains before the harvest period (Onam) would begin. Although, not all of the population believe in such old norm but it does affect business as a whole.
TMT and Ingot prices in TN for the last couple of weeks have been hovering in the range of Rs 43500-45000/MT and Rs 37000-37500/MT respectively while TMT & Ingot in the Eastern part of India has come down in the range of Rs 1000-1500 and Rs 500-1000/MT respectively owing to very poor demand.
This period will end towards mid of August. And markets may look dull in the region in the running quarter.
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