There was all round movement in pencil ingot and TMT price level after a fortnight. As the monsoon gets over market gradually seems to be limping back to normalcy. After a sever mauling in August buying had taken beating with slow end use demand of TMT and WRC. Pencil Ingot producers were coerced into capacity reduction to bring balance between supply and demand.

Buyers looked eager to replenish stocks of both pencil ingot and TMT as construction activity is expected to pick up in the coming weeks. However the momentum is expected dissipate within a fortnight with the commencement of PITRA PAKSHA when no new construction activity takes place as it is considered inauspicious. However the intervening period will see some inventory buildup with prices being low.