[Ferro-Alloys.com] RINL-VSP CMD Mr PK Rath observed that the steel industry is showing signs of improvement in the country with the introduction of Government’s new initiatives in boosting the spending on infra, construction and auto sector. Mr Rath pointed out that many steel companies in the world are under severe stress during 2019 and the rise in raw material prices like coking coal and Iron ore severely impacted the entire steel industry bottom-line and RINL is also no exception to this development.
APL Apollo Tubes registered a strong sales volume of 480,225 tonne in Q3of 2019-20, higher by 52.6 percent YoY from 314,707 tonnes in Q3 of 2018-19 led by strong demand across product categories. APL Apollo Tubes said “The structural steel construction material for residential and commercial infrastructure reported 39 per cent growth to 254,856 tonnes from 183,886 tonnes while galvanised structural steel construction material infrastructure witnessed a growth of 31 per cent to 87,748 tonnes from 66,872 tonnes.
China Baowu Steel Group, the nation's largest steelmaker, is approaching its target of becoming a global industry leader with an annual output of 100 million metric tons as it intends to acquire a controlling stake in Chongqing Iron and Steel Co Ltd.