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