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NEW DELHI: Steel futures softened in the afternoon trade on the National Commodity and Derivatives Exchange on Friday following profit-taking by speculators at improved levels amid increased supplies in the spot markets.

At 1245 hrs on the NCDEX, steel long for the most-active May-month contract lost 1.26 per cent to Rs 21,140 per tonne, with the contract showing open interest for 16,390 lots. The June-month contract also eased by 1.19 per cent to Rs 21,680 per tonne, in trading of 4,600 lots, while the July contract moved down by 0.96 per cent to Rs 22,660 per tonne, clocking 4,030 lots.

Marketmen said besides profit-taking, a subdued demand in the spot markets also brought steel prices down at the futures market here. - PTI

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