July 15,
Jindal Power will put power supply on hold from 15th July mid night for next 15 days on account of maintenance.
There are about 24 induction furnaces which get power supply from Jindal. These 24 furnaces cumulatively produce around 2,400 MT/day. 15 days of closure will result in a production loss of around 35,000 MT.
One of the furnace owners at Jindal Park, Raigarh was of view that “It will not affect us much, since markets are weak, we have also stopped procuring raw material for past few day”
Sponge manufacturers are expecting a slight fall in sponge prices as there will a be excess supply of sponge in Raigarh and they will try to sell it in markets like Raipur, Gaziabad, Nagpur.
Reported by Richa Sharma (richa@steelmint.com)
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