Rising power prices in several states of India have threatened existence of induction furnace technology which contributes about 32% of production, said Tata Sponge official at a coal conference held in Delhi.
Power tariffs have gone up to 5-20% across India in last few months on rising cost of production, which has also weighed upon sponge iron demand, he further added.
On new norms implemented by steel ministry, he said induction furnaces have to install additional equipment to control phosphorus and sulphur to follow BIS norms (Bureau of Indian Standards).
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