Steel futures up on fresh buying support

Steel futures prices strengthened by Rs 360 to Rs 26,740 per tonne today on fresh buying by traders.  

Market analysts said pick up in demand and restricted supply in spot markets, mainly enthused the trading sentiments.

At the National Commodity and Derivatives Exchange counter, steel prices for near February month contract gained by Rs 360, or 1.36 per cent, to Rs 26,740 per tonne, with an open interest of 6,350 lots. 

Steel prices for delivery in January also edged up by Rs 120, or 0.46 per cent, to Rs 26,330 per tonne, clocking an open interest of 87,120 lots.