[Ferro-Alloys.com] Stronger than expected floor space starts in China in October indicates demand for steel from the property construction sector could be stronger than anticipted in early 2020.
In October, floor space starts increased 23% year on year and took January-October starts to 1.85 billion sq m, which was 10% higher year on year, according to National Bureau of Statistics data released Thursday.
Tata Steel Europe, the region's third-largest steelmaker, is set to announce a restructuring and cost-cutting plan in the face of weak market demand and continuing competition from imports, a spokesman said Monday.
Turkish pipe mill exports fell by 5.1% year on year to 1.42 million mt during the first three quarters of the year amid unfavorable market conditions in some of Turkey's main pipe export markets.
Exports to the US fell significantly in that period, amid the 25% Section 232 tariff.
JSW Steel on Tuesday said its crude steel production declined 13 per cent to 12.54 lakh tonne (LT) during October 2019.
The company had produced 14.47 LT crude steel in October 2018, it said in a BSE filing.