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Steel prices declined by Rs 340 to Rs 28,360 a tonne in futures trade today as traders reduced their positions, guided by weak domestic markets cue.
Market analysts said the fall in demand in domestic markets influenced prices.
At the National Commodity and Derivatives Exchange, steel for delivery in June dropped by Rs 340 or 1.18 per cent to Rs 28,360 a tonne, with an open interest of 1,090 lots.
Likewise, steel futures prices for delivery in April shed Rs 190 or 0.68 per cent to Rs 27,890 a tonne, with an open interest of 40,450 lots.
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