The Punjab Electricity Board has announced a daily power cut of 10-12 hours for Industrial users w.e.f. 16th of October.
The power cut is applicable to both Induction furnaces and Rolling mills at Mandi Gobindgarh and it will take place during the day time. However, the steel plants are allowed to operate in the night shifts.
“Things are still unclear. Buyers have turned cautious and Ingot is quoted at around Rs 33,700/MT. More clarity is said to be achieved tomorrow when the market opens”, said a trader based in Mandi Gobindgarh.
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