Iron ore price topped $200 a tonne, a record high this week. Iron ore prices have reached an all-time high, with China’s domestic steel product prices also soaring to record highs. The uptrend in steel prices is likely to continue if relationship troubles between China and Australia linger and if China’s plans to cut steel production […]
ArcelorMittal Nippon Steel (AM/NS) India along with the Odisha government has initiated a feasibility study for its proposed 12 million tonne per annum (MTPA) integrated steel plant in Kendrapara district of the state. In March 2021, AM/NS India had signed a memorandum of understanding (MoU) with the Odisha government for setting the greenfield project in Kendrapara with an investment of Rs […]
Steel mills in India have raised prices by up to Rs 4,500 per tonne from the beginning of the month taking the benchmark hot rolled coil (HRC) price in the Mumbai market to a record high of nearly Rs 68,000 per tonne. Despite low domestic demand primarily due to lockdown and restrictions on mobility, the […]
Chinese trade data gave a mixed snapshot of neighbour Myanmar’s ability to keep up metal shipments in March amid unrest after February’s coup, with flows of nickel pig iron (NPI) dwindling to almost nothing but those of copper doubling month-on-month. With Chinese firms directly involved in Myanmar metals mining, imports of stainless steel raw material NPI […]
China, the largest consumer of steel, is facing supply curbs which bode well for steel demand and prices globally. Limited exports out of China, as Beijing targets zero emissions over time, will lower the risks of cheap steel imports into India and will likely boost capacity utilisations across domestic steel manufacturers. For domestic steel manufacturers […]
Tata Steel unveiled its transformation plans for a steel tube making site in the UK’s East Midlands, which the Indian steel major said will give the business the best chance of a strong future. Work has already started at the 150-acre site at Corby. Workers at the site produce steel tube products from steel made […]
Global steel demand will power ahead by 5.8% this year, as economies recover from the COVID-19 pandemic, but growth will retreat next year as the impact of stimulus spending diminishes, the World Steel Association (worldsteel) said. The industry group upgraded its 2021 forecast from its October estimate of 4.1% growth, as buoyant economic recovery last […]
India’s steel demand fell by 13.7% in 2020, but is expected to rebound by 19.8% in 2021 driven by the growth-oriented government agenda even as private investment takes longer to recover, worldsteel said in its latest short range outlook released on Thursday, India suffered severely from last year’s extended period of severe lockdown, which brought most […]
Most steel-using sectors in China will show moderate growth and the country’s steel demand is expected to grow by 3.0% in 2021, but decelerate to 1.0% as the effect of the 2020 stimulus subsides, and the government focuses on more sustainable growth, worldsteel said in its latest short range outlook. The government’s reaction to the […]
Global steel demand will grow by 5.8% in 2021 to reach 1,874.0 million tonnes (Mt), after declining by 0.2% in 2020, worldsteel forecast in its latest short range outlook on Thursday, adding that in 2022 steel demand will see further growth of 2.7% to reach 1,924.6 Mt. The current forecast assumes that the ongoing second […]
