India: Raigarh Based Furnaces Start Operations as Jindal Power Resumes Supply

Induction furnaces based in Jindal's industrial park in Punjipatra, Raigarh, Chhattisgarh (Central India) have resumed operations from 8th March after Jindal Power Ltd (JPL) resumes power supply.

There are about 25-28 induction furnaces in Jindal's industrial park, which produces approx 70,000-80,000 MT ingot/billet per month and has long term agreement for power with JPL.These furnaces have been closed since 1st March amid power cut by JPL.

Billet prices in near by markets correct after these furnaces have started production in Raigarh. Current offers for billet assessed at INR 32,800-33,000/MT (-200) ex-Raigarh, INR 33,300-33,400/MT (+200) & INR 32,800-33,000/MT (-100) ex-Rourkela. The prices are ex-works & excluding GST, changes mentioned are day on day basis.