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Price Correction on Pencil Ingot


The pencil ingot prices improved mildly on June opening all over as a safeguard tactics employed by the rerollers to ward off any possible correction in finished prices. Expecting reduction in prices they have hiked the prices to settle at least at present levels if not less.

The improvement is deceptive in the sense as the market is expectant of a price correction in finished products. Market sources inform that most of the primary producers are in no mood to relent. The order position from the project being good and stock level low at least two of them have already opted for roll over and the rest are expected to follow suit.

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