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HRC steel: EU buyers avoid bookings in view of expected price drop
European buyers continued to avoid hot rolled coil (HRC) bookings on 29 February due to pessimistic price forecasts and limited end-user demand. While demand remained low, production increased due to the restart of blast furnaces that were shut down last year. As a...
New US sanctions could curb Indian imports of Russian coal
The new US sanctions against Moscow are more likely to reduce Indian imports of thermal coal from Russia than earlier sanctions, as they specifically mention major exporters SUEK and Mechel. Russia, historically a minor exporter of this fuel to India, began increasing...
Steel: Indian steel producers ask the government to ban the export of low-grade ore
Some secondary steel producers in India have asked the government to ban the export of low-grade iron ore to ensure greater availability on the subcontinent, despite the preference for this material by key importers such as China for steel production. The Chhattisgarh...
Geopolitical tensions and dollar strength: uncertainty looms over markets
The start of the new year presented mixed signals for the global economy and the financial markets in general. The government's optimistic outlook and positive economic data from the US initially fuelled enthusiasm and anticipation for future developments. However,...