Spot News on Iron and Steel Sector

(i) Ingot prices remain firm on strong demand from South India: Ingot prices which shot up by Rs 1,000-1, 500/t last week on good demand from UP steel mills (as scrap supply was limited).
(ii) Domestic ferrous scrap prices remain firm with higher priced imports: Domestic ferrous scrap prices continued to move up. Prices for local ferrous scrap move up by up to Rs.300/MT. 

(iii) Global flat products prices move up: Flat product prices have moved up globally with market sentiments being positive for the near term. 

(iv) Indian Pig Iron prices remain stable on low production: unlikely to correct soon: "Indian Pig Iron prices remain unchanged due to low production and might not correct  in the few days to come" said steel producers. "

Courtesy: Steel Mint