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.

Nearly 7,000 tonnes of pipes were shipped to the US, Australia, and Canada during the period, a year-on-year rise of 31 percent.

Hung Nghiep Formosa Ha Tinh took the second spot with output of 1.62 million tonnes, 20 percent lower than Hoa Phat.

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.

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.

The group has experience in large scale production, material resources and manufacturing. These factors have ensured high quality and reasonable prices for its cargo.

The project is expected to be built in three years and become operational in 2024.