Mysteel Global – China EAF capacity use rebounds on improved margins

China’s independent electric-arc-furnace (EAF) steel mills saw their capacity utilisation recover slightly last week, as the profit margins these EAF steelmakers are enjoying on their output have improved thanks to the strengthening of finished steel prices currently, market watchers said. As of November 12, the capacity utilisation rate of the 71 independent EAF steelmakers across […]

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India announces 12-point boost for economy to add to festival cheer

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Indian Finance Minister Nirmala Sitharaman on Thursday announced financial outlays for 12 sectors, including a fertiliser subsidy as well as those for housing and infrastructure that will likely drive demand for key commodities. She said the announcement was the third instalment of Atma Nirbhar Bharat (Self Reliant India) programme that was meant to establish the country […]

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Tata Steel signs MoU with HZL to procure zinc and other metals

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India’s top private sector steel maker Tata Steel has entered into a memorandum of understanding (MoU) with Vedanta group company, Hindustan Zinc to procure the firm’s complete domestic zinc requirements, according to a statement. This initiative would bolster the idea of Aatmanirbhar Bharat with one of the largest companies choosing to become vocal for local. “This MoU is […]

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Weekly Wrap – Indian economy begins to turn around but resurgence of Covid cases globally doesn’t augur well

The U.S. Federal Reserve kept its loose monetary policy intact this week and pledged to do whatever it can in coming months to sustain a U.S. economic recovery losing speed amid a spreading coronavirus pandemic. The coronavirus pandemic is showing no signs of abating and has hit the Indian economy severely. However, Finance Minister Nirmala […]

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