A stable trend devoid of major interest was witnessed in ingots prices during the week ended January 23.
Prices had inched up at the beginning of the week and firmed up later, but almost the entire recovery was wiped out during the last two days of the week on low demand, market sources said.
Not-so-encouraging demand, coupled with an adequately supplied market, is keeping pressure on the upward price movement as buyers are not willing to create positions, they said.
Though prices remained largely firm in some markets and even managed to move up on a week-on-week basis, a general weak trend was visible in majority of the markets like Indore, Muzaffarnagar, Durgapur, Mumbai, Hyderabad, Jaipur, Raigarh, Raipur and Rourkela.
Following table gives indicative prices of ingots in various markets during the past one year:
NAME OF THE MARKET |
Price Rs./Ton as on |
Price Rs./Ton as on |
Price Rs./Ton as on |
Price Rs./Ton as on |
Price Rs./Ton as on |
23-Jan-16 |
22-Jan-16 |
16-Jan-16 |
12-Jul-15 |
31-Jan-15 |
|
MANDI GOVINDGARH |
23,650 |
23,725 |
23,625 |
28,000 |
30,350 |
ALANG |
NA |
22,400 |
NA |
24,800 |
29,000 |
BHILAI |
22,250 |
22,250 |
22,250 |
26,800 |
28,900 |
GOA |
21,450 |
21,450 |
21,450 |
24,100 |
28,100 |
INDORE |
27,400 |
27,600 |
27,800 |
29,800 |
34,000 |
MUZAFFAR NAGAR |
23,500 |
23,600 |
23,600 |
27,500 |
29,850 |
DURGAPUR |
24,300 |
24,300 |
24,400 |
28,600 |
31,900 |
MUMBAI |
22,500 |
22,600 |
22,750 |
24,900 |
29,300 |
HYDERABAD |
22,000 |
22,000 |
22,750 |
- |
28,800 |
JAIPUR |
22,600 |
22,750 |
22,700 |
26,900 |
28,800 |
KOLKATA |
24,800 |
24,800 |
24,700 |
28,900 |
32,200 |
RAIGARH |
20,100 |
20,400 |
20,800 |
23,800 |
27,400 |
RAIPUR |
20,200 |
20,550 |
20,800 |
23,900 |
27,000 |
ROURKELA |
20,100 |
20,200 |
20,500 |
23,400 |
26,500 |
GHAZIABAD |
23,400 |
23,400 |
23,400 |
27,000 |
29,900 |
KANPUR |
23,000 |
23,000 |
23,000 |
27,200 |
29,100 |
AHMEDABAD |
22,400 |
22,700 |
- |
25,300 |
- |
LUDHIANA |
24,000 |
24,000 |
23,700 |
28,500 |
30,500 |
Source: Traders & ISMW