Reports of Steel, Metal & Alloys

Petroleum & Natural gas price is rising due to the impact of covid-19. In Delhi, petrol crosses Rs 85 mark for the first time.
NDMC Ltd reduced the prices of iron ore lumps and fines by 400Rs/ton, and DRCLO has reduced lump ore by 470Rs/ton to Rs2250, Rs1960, and Rs2610 respectively due to fallen demand of end products of steel and reduced capacity of steel mills.
The import of coal rose 12% to 19 million tonnes last month due to improved consumption. consumption recover by thermal power plants and few other industries has also helped by competitive amounts in international markets.
Crisil NSE -1.17 % Research. With 69% of half-finished steel and 28% of total finished steel heading there between April and August, India turned net exporter of steel to China for the 1st time in 10 years.
ONGC’s decide to merge MRPL with HPCL the method is now expected to be completed by FY24 as ONGC has decided to consolidate its refining and petrochemicals business around MRPL first before pushing for its merger.
Top steel-producing companies within the country are plans to vaccinate their staff across offices and plant sites with the beginning of the nationwide COVID-19 vaccination drive.