Mild steel futures firm on NCDEX
Mild steel ingots were trading firm on the domestic futures market today on account of strong international trend and concerns over rising input costs.
By PTI |
NEW DELHI: Mild steel ingots were trading firm on the domestic futures market today on account of strong international trend and concerns over rising input costs.
At 1340 hours on NCDEX, June contract of mild steel ingots was up 1.27 per cent or Rs 420 at Rs 33,530 per tonne, while July contract was firm by 1.07 per cent or Rs 360 at Rs 34,000 per tonne.
The firm trend in mild steel ingots were mainly the continuation of yesterday's rally, Karvy Comtrade's G Harish said.
He said that concerns over higher input costs coupled with increase in prices of petrol and diesel added to the overall pressure.
Firm international trend, particularly in East Asia, supported the prices, Harish said. Carbon steel plates were up by 50 dollars in East Asia at $ 1100 per tonne compared to last week's $1050 per tonne, he added.
At 1340 hours on NCDEX, June contract of mild steel ingots was up 1.27 per cent or Rs 420 at Rs 33,530 per tonne, while July contract was firm by 1.07 per cent or Rs 360 at Rs 34,000 per tonne.
The firm trend in mild steel ingots were mainly the continuation of yesterday's rally, Karvy Comtrade's G Harish said.
He said that concerns over higher input costs coupled with increase in prices of petrol and diesel added to the overall pressure.
Firm international trend, particularly in East Asia, supported the prices, Harish said. Carbon steel plates were up by 50 dollars in East Asia at $ 1100 per tonne compared to last week's $1050 per tonne, he added.
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