Domestic ingot market has remained stable with minor fluctuation of INR 50-100/MT today compared to last day closing. However, a sharp price correction of INR 650/MT has been seen in Chennai market. The major behind this is surge in imported scrap and limited availability of buyers in local market.
Few major markets like Hyderabad reported thin trade today, which is expected to continue for couple of days due to local festival.
MS ingot offers as on 14 Jan’16
| Particular | Prices | D-o-D | W-o-W |
| Ex-Ghaziabad | 23,700 | 0 | 0 |
| Ex-Ludhiana | 24,200 | 0 | 0 |
| Ex-Mandi Gobindgarh | 24,150 | – 50 | +450 |
| Ex-Muzaffarnagar | 23,800 | 0 | -100 |
| Ex-Durgapur | 21,000 | – 200 | +100 |
| Ex-Rourkela | 20,600 | 0 | -250 |
| Ex-Raigarh | 21,000 | 0 | -200 |
| Ex-Raipur | 21,300 | +100 | +200 |
| Ex-Ahmedabad | 23,600 | 0 | 350 |
| Ex-Goa | 21,700 | 0 | -1,350 |
| Ex-Mumbai | 22,800 | -50 | -300 |
| Ex-Bangalore | 22,000 | 0 | -1,300 |
| Ex-Chennai | 21,350 | -650 | -1,450 |
| Ex-Hyderabad | 23,000 | +500 | -500 |
Prices in INR/MT
Source: SteelMint Research
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