Indian Ferro Alloys market is to witness one of the biggest shutdowns in the coming days due to lockdown imposed by GOI to curtail the significantly increasing cases of COVID-19. There is a chilling hysteria running down in the market which is keeping the workers from coming to the operation units. Production in Durgapur region has been suspended and all the major Ferro Alloys plants have shut down and the rest would be shutting down by tomorrow, revealed major producer source. Meanwhile, industries in Vizag are also following suit and the industries in the SEZ (Special Economic Zone) have also shut down operations. However, a few industries have proposed a unique solution for the social distancing in Factories, they have reduced the production to skeletal levels and have provided the worker’s residence within the factory and such workers are not allowed to leave the premises for safety purposes.
In general, a plant needs 15-20 days before shutdown otherwise, they can incur losses. However, due to oversupply in the market, the production levels were already low, therefore, there will be losses but that may not be severe, shared a Silico Manganese producer. However, with this major shutdown, the companies are afraid of a huge disaster waiting in line.
Producers in Raipur are also willing to shut down the operations in a move to combat the Coronavirus blowout in the region. The situation is unfavourable yet necessary and we must look at the bigger picture, as this is necessary to stay safe, said a producer from Raipur.
Leave a Reply