Semi Finish price to remain range bound in near short term

Semi finish price of Sponge Iron, MS Ingot and Billet may remain range bound in short term SteelMint learned from market participant. Production cut has witness across Mandis' that has balanced the demand and supply along with price fluctuation. Demand of Sponge Iron has improved in Western and North India due to scrap shortage. 

Mandi Gobindgarh price of MS Ingot to remain at 31,700-31,900/MT. Similarly, Raipur Sponge Iron price herd to remain at Rs 18,800-19,100/MT along with MS Ingot at Rs 27,500-600/MT and MS Billet at Rs 28,100/MT.