You are here: Home » Markets » Commodities » Industrial Metals
Business Standard

Steel futures slip on profit taking

Press Trust of India  |  New Delhi 

Steel futures prices turned weak by Rs 540 to Rs 29,450 per tonne today owing to profit booking by traders.

Market analysts said traders preferred to book profits at existing high levels following two days of upswing.

At the National Commodity and Derivatives Exchange counter, steel prices for delivery in April lost Rs 540, or 1.80 per cent, to Rs 29,450 per tonne, with an open interest of 760 lots.

Prices for delivery in January also fell by Rs 150, or 0.56 per cent, to Rs 28,120 per tonne, clocking an open interest of 61,410 lots.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, January 12 2011. 13:33 IST