Floods in Australia hit coal mining operations, supply chains

Floods in eastern part of Australia, affecting the states of New South Wales and Queensland, have impacted operations at coal mines in the region, stalled railway transportation, affected port schedules and disrupted supply chains in general, mainly for thermal coal exports. With weather conditions getting worse, companies and government officials were still assessing the impact, […]

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China steel output seen near record levels despite capacity cuts

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China has embarked on cuts in production in its largest steel-making city of Tangshan to check pollution, but its overall output will likely still remain near last year’s record levels, senior market analyst Hongmei Li, Editor of Mysteel Global, told Biman Mukherji in an interview. “In Tangshan, around 23 mills have been asked to cut capacity utilization by […]

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India’s finance minister targets raising Rs 3 trillion for improving infrastructure

Finance Minister Nirmala Sitharaman said on Tuesday that the government hopes to raise three trillion rupees through the Development Finance Institution (DFI) for improving the country’s infrastructure sector. The government has approved a proposed law to set up such an institution that can facilitate investments in the infrastructure sector. The infrastructure sector has been the prime focus […]

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India may impose a short-term ban on iron ore exports to boost domestic construction

The Indian government may consider imposing a short-term ban on exports of iron ore, since the steel sector is facing a raw material shortage, Union minister for steel, petroleum and natural gas Dharmendra Pradhan said, addressing Merchant Chamber of Commerce (MCC) annual general meeting in Kolkata. Domestic iron ore prices across grades has doubled from […]

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The next wave of the global recovery could send commodity prices soaring: Analysts

The next phase of the economic recovery is likely to be driven by commodity-intensive infrastructure investment, analysts have told CNBC, potentially setting the stage for further gains across the industrial space in the coming months. The prediction comes at a time when market participants are closely monitoring the strength of the global economic recovery, as […]

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China unveils infrastructure plans; will boost steel, diesel demand

China has laid out plans to issue Yuan 3.75 trillion ($526.8 billion) of new local government special bonds this year, up from Yuan 2.15 trillion in 2019, which will boost infrastructure construction and benefit diesel as well as steel consumption. The announcement came during Premier Li Keqiang’s address to the National People’s Congress on May […]

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Steel producers in India raise prices by Rs 1,000-1,500 a tonne as demand perks up

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Responding to cost pressure and greater demand, domestic steel producers have raised prices by Rs 1,000-1,500 a tonne across products for January, reports Business Standard. “Iron ore miners have increased prices by Rs 600 per tonne and so this increases the cost of production by Rs 1,000 a tonne. Hence, we have hiked prices from […]

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