Displaying items by tag: price

India: The Rourkela Steel Plant has more than tripled the price it is receiving for blast furnace granulated slag since early 2017. Previously the steel plant was selling its slag to a local cement producer, according to the New Indian Express newspaper. However, since moving to using online auctions to sell the by-product the prices have risen. In early 2017 the Union Tribal Affairs Minister Jual Oram alleged that the price of slag was being fixed. However the steel plant countered that it lacked railway infrastructure.

India: Union officials at the Rourkela Steel Plant (RSP) have asked for an investigation by the Central Bureau of Investigation (CBI) into an alleged fixing of the price of blast furnace granulated slag (BFGS). The RSP claims that it couldn’t sell its slag by electronic auction due to limited storage space, lack of rail transport logistics and low market price of BFGS, according to the New Indian Express newspaper. However, sources quoted by the newspaper say that the plant had sufficient storage space and that at least three times as much railway cargo capacity was available as the RSP has indicated. It is estimated that it undersold its product by at least US$15.5m. Union Tribal Affairs Minister Jual Oram has also accused the steelmaker of favouring local cement producer OCL India in the scheme.