Last Updated : March 22, 2010 15:40
NCDEX Long steel volatile, up 0.44% at 27,300
The active April NCDEX
Steel long futures moved quite volatile for the past week as lots of momentum news triggered the market.
Prices were up by 0.44% from Rs 27,300 per tonnes previous day.
However, investors continued to buy steel and added nearly 490 fresh long positions to 63,890 positions remained opened on previous day.
The LME 3-M forwards steel billets rose by 3.43% to $527.50 per tonnes.
Higher domestic demand if pulling up prices and raise in raw material prices supplement the gains.
Day ahead, prices are expected to follow the steady equity market along with the movement in industrial metals.
Any further news from government on the export tax on
Iron Ore would be crucial to look for.
Courtesy: Karvy Commtrade Ltd.
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MCX NICKEL MINI 30 March 2012
contract was trading at
Rs 1010 , down Rs. -2.8 . What's your view on it?
