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| Volatility in pencil ingot market likely to trigger the charge - 22 Feb, 2012 | ||||||||||||||||||||||||||||||||||||||||||||
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Indian steel ingot market has never been devoid of action even in the worst of times. Colorful concoction of cost escalation, finished demand and the fickleness of market sentiment have kept it agog. One tends to develop an obscure though distinct correlation with the stock market movements and the pencil ingot prices. In customary trajectory the pencil ingot prices have been undulating. On the side lines the key determinants of ingot prices viz., scrap, sponge iron and rebars have remained muted with ignorable flickers. Amidst melting scrap levels and iron ore and rather week TMT demand the rally seems even more sentiment driven when the Stock market has redeemed handsomely based on better economic indicators. Q4 vibrancy seems to have caught up more with sentiments rather than demand. Efficacy of the rally is neither comprehensible nor digestible but with the international levels for billets and re-bar ticking in the last week it is a classic case of so far so good. Pencil Ingot
Change is on Feb 21st as compared to 17th Feb 2012 Change is per tonne If volatility in steel prices is affecting your business, keep tab on market realities and trends by subscribing to www.steelprices-india.com, which is a comprehensive portal that provides domestic pricing information for benchmark steel products in each category at select location in India on a regular basis 5 days a week and international price levels on a weekly basis. Products covered 1. Input materials - Iron ore, scrap, sponge iron, pig iron pencil ingot, billets and blooms 2. Long products - Rebar, wire rod, angle, channel and joists 3. Flat products - Narrow plates, wide plates, HR, CR and galvanized 4. Others - Pipes How to subscribe 1. Register at www.steelprices-india.com and pay on line or ask for invoice 2. Send mail to admin@steelprices-india.com. 3. Call at 0091-124-3007891/2/3 (Sourced from www.steelprices-india.com) | ||||||||||||||||||||||||||||||||||||||||||||
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