Power cut of two days in a week has been announced in Mandi Gobindgarh for Industrial Units including both Induction Furnaces & Rolling Mills.
The Power cut will be effective from 17th of June.
According to market players, ” the power cut could lead to a slight reduction in prices of sponge iron & Scrap. However, Ingot prices may not fall much”.
The Latest trade price for MS Ingot in Mandi Gobindgarh is Rs 34,800- 34,900/MT (basis), i.e. up by Rs 400-500/MT from the previous close. Similarly, Sponge iron in Mandi trades at around Rs 30,000-30,200/MT & HMS Scarp trades at Rs 30,300-30,400/MT.
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