Production from induction furnace units located at the OP Jindal Industrial Park at Punjipathra in Raigarh (central India) to improve as power supply resumed to full fledged as against about 50% cut since the 4-5 days.
With resumed power supply, the supply of Ingot, billet will improve in the spot market, this is likely to support the sponge iron prices as consumption will grow.
There are about 30-40 furnaces in Punjipatra Industrial area with average production of about 3,000-4,000 t ingot/billet per day.
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