U.S. steel mills' weekly capacity utilization rate increased to 76.9%

Kalinganagar can grow to about 15 – 16 million, Angul to 10 million and Jamshedpur to 14 million, Narendran added.

The move is aimed at ensuring cost reduction in highways construction using steel.

In December 2020, U.S. steel mills shipped 7,049,785 net tons, a 4.4 percent increase from the 6,753,447 net tons shipped in the previous month.

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.

For the construction of highways, the Modi government has allowed the usage of steel produced by secondary steel makers.

The export of South African coal to China is poised to continue while China decides not to buy Australian coal, Glencore CEO Ivan Glasenberg said during this week’s Glencore media conference.