Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
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.
Also Read : China’s steel bar exports surge by 9.4% in January-April China to build hydro & gas, upgrade coal fleet for more flexible power system
NTPC's subsidiary NGEL signed an agreement with the Andhra Pradesh government to build an integrated...
Renewables 21-Feb-2024
✅ 12% import duty proposal to protect India’s steel industry.✅ Prices may increase as import...
Business 22-Mar-2025
Larsen and Toubro (L&T) declared bagging a major order gas pipeline project in the Middle East r...
Large Corporate 14-Mar-2024
In May, global scrap prices remained mostly unchanged in most of the world's major markets. There we...
Ferrous 29-May-2024
Steel Ministry exploring separate mining vertical for SAIL. Move aims to enhance iron ore productio...
Business 20-May-2025
Toyota Motor will invest in Taiwan Semiconductor Manufacturing Co.'s Japanese subsidiary to fund the...
Automobiles 06-Feb-2024