Foundries in Coimbatore seek higher prices for products

With raw material prices increasing twice a month, the industry is going through a rough time, S. Balraj, chairman of the Indian Institute of Foundrymen, Coimbatore chapter, said

Over 700 foundries in Coimbatore that manufacture castings for different verticals of engineering sector are hit by the high raw material prices. Capacity utilisation at the foundries was 50 % in 2019-2020. After September last year, it increased gradually and is at about 80% because of high demand, especially from the automobile sector.