Robust steel exports from China have emerged as a major driver supporting steel production at a time when demand activity from the country's largest steel consumer -- the property sector -- has remained muted for the most part of this year.

Moody's Investors Services has upgraded Tata Group-backed leading steelmaker, Tata Steel's ratings to investment grade with a Baa3 issuer rating. Also, the rating agency has assigned the company's outlook to 'Stable' from positive. Further, it withdrew the com...

Over January-August, China's exports of semi-finished and finished steel increased by 30.6% on the year to 60.977 million mt.

But the increase in sales prices has not been enough to offset rises in production costs, sources reported during the assessment period.

“We have already had initial discussions with the major incumbent steelmakers in the US,” Chathu Gamage, principal at RMI said.

Such certification would help because the ferro-alloys industry is quite energy-intensive and is a key target for state-driven green development plans.

World crude steel production for the 63 countries reporting to the World Steel Association (worldsteel) was 152.6 million tonnes (Mt) in August 2023, a 2.2% increase compared to August 2022.

Recently, South Korea’s LG Chem Ltd has entered a partnership with China’s Huayou Group’s subsidiary Youshan to build a joint electric vehicle (EV) battery material plant in Morocco to diversify its portfolio.