Due to the high demand and unstable power supply, the progress of the steel production had been impacted, which thus affected the domestic sales price of the steel billets in India's market. The price had sharply risen in the past week.

The instability of the electric power had affected the operation of the induction furnaces, which directly influenced the production of the steel billets, and the finished steel product plants had urgently purchased steel billets even at a higher price level.

The soaring price of steel billet had also driven the domestic price of the rebars at the same time.