Foundry Informatics Center, New Delhi

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Price fluctuation for Pencil Ingot market

Prices of Pencil ingot in Indian market now have customary sea saw movement which has acquired regularity over a period. With barely any ripples in the downstream market the sole recluse for it seems to be the commodity trading and fluctuation in input material prices.

The furnace operators already remain ebullient in this solitude enjoying an expanded elbow room as the conversion gap of nearly INR 5000 per tonne to INR 7000 per tonne against the normal level of INR 3500 per tonne to INR 4000 per tonne. Remarkably the long product market has remained stable without inordinate fluctuation recently giving the market stability and the furnace owners a comfort zone to accommodate price correction in scrap and iron ore without hurting their bottom lines.

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