The volatility in the prices of metal has created some anxious moments for industrialists in Jagadhri, the metal town of Haryana.
Jagadhri town, located approximately 200 kilometres north of Delhi, is famous for its metal and utensil industry.
According to industrialists in the region, there has been speculation in the base metal market which is impacting the business in the region. The industrialists maintained their businesses were being impacted especially due to the prevailing volatility in metal prices. With prices moving up and down at regular intervals it had created doubts in the minds of business houses, threatening to retard the growth of business.
Ashwani Goel, President Confederation of Commerce and Industry (Jagadhri), maintained volatility in metal prices had created some anxious moments for the industries. “The volatility had retarded the pace of business growth in the region and business was 20 per cent down”, added Goel.
President of Metal Manufacturing and Suppliers’ Association R K Saluja believed volatility in base metal prices tended to harm the small scale units more.
President of Jagadhri Stainless Steel Re-roller Association Arkinder Pal Bhatt also said the instability in prices could harm the business more for the stainless steel manufacturers. He added purchasing metal on higher prices and risking it to sell on lower prices was the challenge most of the stainless steel utensil manufacturers in the region feared.
