Chinese steel futures closed at all-time highs on Monday, underpinned by robust demand and concerns over production curbs, while benchmark iron ore prices hit record highs, fuelled by structural supply shortage.

Chinese steel futures closed at all-time highs on Monday, underpinned by robust demand and concerns over production curbs, while benchmark iron ore prices hit record highs, fuelled by structural supply shortage.

India's primary steelmakers have increased their share of exports in Q4 amid rising international steel prices.

Last week, a Tata Steel spokesperson had said the company was supplying 300 tonne of LMO daily to various states.

“We are also trying to convert the old cryogenic tankers used for transporting nitrogen into tankers for transporting oxygen,” Oommen added.

“This will remove a major bottleneck in transportation of LMO to states. As on date, 1172 tankers are available for LMO, with the capacity 15900 MT,” the statement said.

Steelmaker JSW Steel reported a 6% growth in the crude steel production of 4.19 million tonnes in the last quarter of the financial year 2021.

The sale of construction steel hit 855,000 tonnes, a year-on-year surge of 17 percent. Exports of the item topped 147,000 tonnes, up 10 percent.