India: About five furnaces resume operations in Raigarh as power concerns ease

After about a week, five Punjipathra-based steel plants/furnaces resumed operations on 14 Jun’21, while remaining nine plants are still in shutdown mode, as per latest SteelMint reports. Jindal reported that supply of power had increased to 135 MW from 60-70 MW earlier, while supply is slated to increase to 180-190 MW, as operations resume in full swing. Punjipathra-based furnaces are major suppliers of ingot/billet to Raipur and other markets. With resumption of supplies, billet prices are likely to come under pressure on stagnant finished steel demand.