India turns net exporter of finished steel in FY26 Global scrap market faces tighter supply pressure Indian steelmakers urged to act on decarbonisation Royal Steel eyes global demand for structural steel
Steel prices moved higher after China renewed its push to curb excess capacity in the domestic steel sector, strengthening sentiment across the market. Steel rebar futures climbed above CNY 3,080 per tonne and approached one-month highs as policymakers signaled more orderly production cuts aimed at improving supply discipline and supporting mill margins. The latest policy direction comes as Chinese steelmakers continue to face pressure from oversupply, softer demand linked to the prolonged property slowdown, and rising challenges in export markets due to protectionist measures. With output already slipping below 1 billion tonnes last year, the market is now watching whether tighter capacity control can bring better balance to supply and demand. For the steel trade, the renewed focus on production discipline could support firmer prices in the near term, improve confidence across the value chain, and offer relief to mills navigating a difficult operating environment.
Also Read : Japan's Kobe Steel eyes auto panel JV with China Baowu China to set up carbon footprint management system by 2027
Enhancing better connectivity for the prosperity of Odisha, Union Minister for Road Transport &...
Press Releases 16-Feb-2024
Poor steel production margins have encouraged steelmakers to cut operating rates through blast furna...
Ferrous 20-Jan-2024
The dry port at Jalna is one of several significant projects across India that Prime Minister Narend...
Logistics 12-Mar-2024
NMDC, the largest producer of iron ore in the country, has a one-year target price of ₹319 apiece, a...
Mid Corporate 21-Jun-2024
India awarded a massive 13,124 MW in new renewable energy bids in May 2024 as part of a significant...
Renewables 11-Jun-2024
The Ministry of Defence (MoD) inked five major agreements for ₹39,125.39 crore in New Delhi on March...
Defence 01-Mar-2024