Uttar Pradesh Govt. has ordered to cut power supply to Induction
Furnaces and Rolling mills for 24 hours.
The order comes into effect from today and will continue any further
notice. According to sources, these kinds of decisions are taken
in order save UP from the ongoing severe power crisis.
The order will be reviewed soon and official sources said
the order could be withdrawn if the rains arrive anytime over the next 15 days.
According to market players, “24 Hours power cut will halt production in UP. Demand for raw materials like scrap & sponge iron will fall from mandis' like Ghaziabad. MS Ingot in Mandi Gobindgarh opens at Rs 34,800-900/MT, i.e. up by Rs 100/MT from the previous close”.
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