News of four day power cut in Mandi Gobindgarh halts business activities

 Wednesday, 13 June,

A sudden development on the electricity supply front has impacted the business activites in Mandi Gobindgarh. The disruption in power supply was caused by breakdown in two power producing units at Ropadh (Punjab). The power cuts will be effective from tomorrow i.e. Thursday.

Market participants are not willing to comment on the development as they believe it is too early to speculate on which direction the prices will move, as the fine print for the power cuts has still not reached them. But there where reports that furnace owners who bought scrap are now unwilling to take delivery of goods. On the other hand few traders are saying that the demand for finished products is good on the back of orders from Jammu, now if the power cuts materializes will take prices higher and people sitting on inventories are likely to see good days ahead.