Tuesday, November 30,
According to Chhattisgarh Mini Steel Plant Association, “45 Induction furnaces have decided to shut down operations from today 11.30 pm onwards.”
This move is to oppose higher raw material prices, heavy electricity charges and poor demand for finish goods
Earlier the Chhattisgarh Mini steel Association in a press conference had indicated for an indefinite strike w.e.f. 1st December and had appealed for reduction in electricity tariffs.
Where as most of the induction furnaces based in Chattisgarh and Maharastra are either shut or running at low capacities due to poor conversion cost and high raw material prices.
Other steel associations based in Maharastra and South are planning to adopt the same policy in order to put pressure on govt and private iron ore miners to reduce iron ore prices.
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