Agri Business

Steel futures extend gains on fresh buying

PTI New Delhi | Updated on January 11, 2011

Steel futures prices extended gains by rising Rs 330 to Rs 29,800 per tonne in the futures trade on Tuesday following renewed buying, driven by higher spot market sentiment.

Market analysts said a firm spot market trend on poor supply and strong demand, pushed up further prices.

At the National Commodity and Derivatives Exchange counter, steel for delivery in January moved up by Rs 330, or 1.12 per cent, to Rs 29,800 per tonne, with an open interest of 2,550 lots.

Near March-month delivery contract gained by Rs 140, or 0.48 per cent, to Rs 29,350 per tonne, with an open interest of 51,330 lots.

Published on January 11, 2011

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