Iron ore slumps on China’s inventory pile-up and soft demand for steel

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Iron ore futures extended losses, with the Chinese Dalian benchmark touching a fresh two-week low, as China’s rising port inventories and softening physical demand for steel products weighed on sentiment, Reuters reports. Portside iron ore stocks in top steel producer China also rose to a seven-month high of 123.6 million tonnes last week, SteelHome consultancy […]

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China pushes global steel prices up, including steel prices in India

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Global steel prices are moving up, thanks to the push from China whose domestic demand for steel has increased substantially amid the subdued demand growth from rest of the world in construction, infra, mechanical, metal sectors and automobiles. China has enhanced its mega infrastructure projects announced during 2019-25. A total of 19 railway/urban rail lines […]

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Indian iron ore and steel players urge government to abolish import duty on coking coal

The iron ore and steel industry in India has urged the government to abolish import duty and GST compensation cess on coking coal, a key and expensive requirement in iron smelting, reports Business Standard. India doesn’t have good quality coking coal deposits, leading pig iron and steel manufacturers to lean heavily on imports. At the […]

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