Maharashtra clears 937 hectares for Gadchiroli steel expansion Steel stock surges 29% in just two days Steel output rises 14% to 9.25 MT Infrastructure boom fuels India’s steel consumption
In collaboration with China's National Development and Reform Commission (NDRC) and other relevant government departments, the China Iron and Steel Association (CISA) will speed up the development of domestic iron ore resources with the objective of organising the steel industry to implement an iron ore resource development plan, as stated by Luo Tiejun, Vice President of CISA.
China's apparent crude steel consumption has been declining over the past few years, but it has still exceeded 900 million metric tonnes. In the coming years, China will continue to have a high need for steel. In particular, 27% of the planned new steelmaking capacity will be based on electric furnaces, totaling 110 million mt. Moreover, share of China’s electric furnace-based steel production will reach 30% in 2035. Blast furnace and converter-based long-process production will still be the mainstream production process and so demand for iron ore will remain at relatively high levels.
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