India: Raigarh-based plants to slash production by 50%

Induction furnaces in Jindal’s Punjipatra industrial park at Raigarh in Chhattisgarh are planning to slash production by 50% from August 17 due to curtailed availability of sponge iron and squeeze in margins, senior association officials told SteelMint. The benchmark conversion from Sponge P-DRI to billet is about INR 11,500/t which is currently around INR 10,500/t. The park has more than 30 furnaces, with a combined monthly capacity of 100,000 t.