Higher steel prices, lower coking coal prices and manageable iron ore prices have led to improved margins for steel companies, the analyst said.

Tata Steel, an Indian steel producer, plans to double the steel capacity of its existing plants in Orissa and Jarkand to 40 million tons a year, the Economic Times reported.

In addition, expectations that the US dollar will further depreciate are adding to the buoyancy in the market, they said.

The campaign will last until the end of March.

The price of Q235 high-speed wire rod is increased by 100 yuan.

In the early 1990s, from an aircraft descending into Beijing, I looked down upon a landscape of heavy industry stretching along a mountain-lined valley.

"Both countries have amazing smart people in the younger generation that would be proud to be part of this," Gates said.

On a year-on-year basis, PPI rose 0.3% in January.