Iron Market Trend:

1. The fall in China's DCE iron ore futures has had a corresponding impact on the domestic market, where ingot and old scrap prices are also in decline.

2. Trading range of ingot: Expected to be between Rs 41600-42400 per tonne.

3. Impact on TMT prices: TMT prices are likely to fall in major areas like Mandi Govindgarh, Delhi, Gujarat, Raipur, Raigarh, Durgapur, Jalana and Rourkela.

4. Possibility of recovery: According to experts, a slight recovery in prices is possible due to increased buying at lower levels, but overall the market trend will remain weak.