Metalnewsnet 5 May ：

The hollowness of the market sentiments came to the fore when devoid of any demand triggering factors in the recent past the market prices of pencil ingot and the downstream products exhibited token of resilience. It is important to dispel the myth behind this rally after nearly a fortnight of retraction.

The present situation being gloomy showing no sign of positivism despite rhetoric by the government the only recourse can be aspirations for a brighter future. The NCDEX futures for May - September 2010 showed a growth of 2% thereby infusing some life in the market morale.

(Source: NCDEX)

It goes without saying that his phenomenon was highly skewed restricted on to selected locations in North India. Expectedly the trading circles are agog with the possibility of the market bottoming out after the relentless meltdown. However all these prophesy are latent with the peril of red herring unless something radical happens to boost consumption rather than speculation.


(from steelprices-india)