The HBA dropped down from 72.67 U.S. dollar per metric ton for August, the spokesman said.

ferro-alloys.com:August crude outputs of JSW’s steels inclines 13% yoy to 1.25 mt

The move is said to capitalize on the growing demand for steel in Vietnam’s fast-growing northern region.

Subdued construction demand is also a trigger for such cutbacks.

On Sept. 23, the Deutsche Boerse announced Wednesday evening in an online note.

"he two Indian steel companies will benefit from rising steel production on the back of continued demand growth."

The purpose of the proposed fundraising is refinancing its existing high-cost debt.

"I think steel touches all parts of the economy..."