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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.

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