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Steep input cost hike forces foundry industry to curtail production

Foundries usually absorb commodity price rises of 2-3% every year. But in the past one year, prices of several commodities rose 60-150%

steel, iron, metal, manufacturing, production

Foundries that produce metal castings across the country, led by top clusters such as Rajkot, Ahmedabad, Vadodara and Pune, among others, are being forced to either curtail production or temporarily shut down amid a spike in input costs. It is customary for the foundry industry to witness and absorb price rise of different commodities within the range of 2-3 per cent every year. However, in the past one year, metals and castings industry saw a steep rise in commodity prices including that for coke, pig iron, cast iron, steel scrap, cast iron borings, HR sheet, CR sheet, ferro ...