Tata Steel has announced that it aims to double production by increasing its production capacity in lndia from the current 21 MTPA to approximately40 million tonnes per annum (MTPA).

European steelmakers have called on governments to take action against soaring electricity prices, which they say are hurting the competitiveness of the sector.

BHP Group on Wednesday reported record annual iron ore production for a second consecutive year, helped by improved weather conditions and higher contribution from its South Flank operations in Western Australia.

All conditions have now been satisfied for Rio Tinto’s investment to develop the Simandou high-grade iron ore deposit in Guinea

Market Prices of Important Means of Production in Circulation, July 1-10, 2024.

This year, finished steel production is expected to hit 30 million tons, reflecting a 7 percent rise from 2023, said the association.

According to him, earlier investment in the semiconductor sector in Malaysia is expected to boost flat steel demand.

Shipment for oil products, steel, auto parts, precision machinery and home appliances expanded in double figures.