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Induction furnace margins fall in Central, East India

Operating margins for induction furnaces to produce billet by using sponge iron as an input has fallen in central and east India due to improved supply of billet in the domestic market and sluggish downstream demand of billet.
The margin, also called conversion spread, has shrunk by INR 800/t, around 7%, in Durgapur and fallen by INR 1,400/t, around 12%, in Raipur on an m-o-m basis so far this month. Currently, the margin for converting sponge P-DRI to billet is around INR 11,600-800/t in Durgapur & INR 11,200-400/t in

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