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The total production loss is estimated at ₹ 30 crore a day
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Slow down: Workers resting at a foundry in Coimbatore that stopped production on Wednesday.
| Photo Credit: PERIASAMY M
The total production loss is estimated at ₹ 30 crore a day Nearly 400 small-scale foundries here stopped production on Wednesday demanding measures to control prices of raw materials.
Pig iron, coke, and scrap are the main raw materials consumed at foundries. While prices of pig iron are up by more than 25 %, that of coke and scrap have increased by nearly 30 %, says Coimbatore Tiny and Small Foundry Owners’ Association (COSMAFAN) president A. Sivashanmuga Kumar.