Iron ore price tumbles below $ 100 a tonne, as China steps up restrictions

The iron ore price extended its slump below $100 a tonne as China stepped up restrictions on industrial activity in some provinces.  The world’s biggest steelmaker is intensifying production curbs to meet a target for lower volumes this year as it works toward a target of reaching carbon neutrality by 2060. According to Fastmarkets MB, benchmark 62% Fe fines […]

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EPC contractors seek fixed-price contracts with steel firms on rising input costs

Uncertainty in steel prices have prompted a few engineering procurement and construction (EPC) players in the highways sector to negotiate with the domestic steel majors for fixed-price annual contracts. Concerned about the rising cost of the raw material, some of them have requested the ministry of road transport and highways (MoRTH) to consider the inclusion […]

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India approves Rs 6,322 crore PLI scheme to boost domestic specialty steel production

The government approved a Rs 6,322-crore production linked incentive (PLI) scheme to boost production of specialty steel in India. A decision in this regard was taken during the meeting of the Union Cabinet chaired by Prime Minister Narendra Modi, Information and Broadcasting Minister Anurag Thakur informed. He said that incentives worth Rs 6,322 crore will be […]

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