Higher ore prices set a floor for steel prices. Graphic: Naveen Kumar Saini/MintDomestic steel producers should be happy at China’s Tangshan city’s decision to continue curbs on steel output. That led to higher prices for quality iron ore. Higher ore prices in turn set a floor for steel prices. Major steel producers have been doing well, on the back of rising steel prices and completed capacity additions. The US may impose higher duties on steel imports in a bid to give an edge to domestic steel output.

Source: Mint February 28, 2018 02:48 UTC