Chhattisgarh Mini Steel Plant Association has today called off its strike, leveraging confidence shown by the state government to meet the expectation of steelmakers and to give concession on power charges. The association was on strike from last 3 days. There are approx 110 manufacturing units, which were reported to be closed.
As soon as the strike started, steel prices began to decline in Raipur (considered as India’s largest secondary steel producing hub). Current price movement of semi finish in Raipur is – MS ingot at INR 23,200/MT, MS billet at INR 23,900/MT, sponge iron (80 FeM) at INR 16,350/MT, pellet sponge (80 FeM) at INR 14,350/MT, rebar (12 mm) at INR 27,100/MT, structure 40 angle at INR 27,000/MT, 200 beam at INR 27,500/MT and wire rod (5.5 mm) at INR 28,000/MT.
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