Naidu lays foundation for Rs 1.36 lakh crore AM/NS steel plant in Andhra Pradesh Fortescue warns diesel costs are surging as Iran war disrupts fuel supply routes GPIL approves Rs 7,000 crore integrated steel plant in Chhattisgarh
Iron ore prices retreated after crossing one-year highs, as fresh signals from China’s steel sector raised concerns over weaker demand. Futures fell below CNY 810 per tonne after Tangshan, one of China’s key steelmaking hubs, activated a level-two emergency response to heavy air pollution, increasing expectations of production curbs and tighter environmental checks.
Market sentiment was also hit by softer steel output data. Chinese steel production declined 3.6 percent year on year to 76.1 million tonnes in February, while global steel output slipped 2.2 percent to 141.8 million tonnes. Beijing has also reiterated its focus on curbing excess steel capacity amid sluggish demand, adding to pressure on iron ore prices. At the same time, weather-related disruptions near Australia’s northeast coast and evacuations at Port Hedland created supply-side uncertainty, partially limiting the downside.
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