2021 saw a stronger than originally expected recovery in steel demand based on vaccination rates and government support measures.

Both parties are examining various options to cooperate and leverage the technical, financial, and operational strengths of each company.

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Both the entities have signed a memorandum of understanding (MoU) to this effect.

As the domestic market has been heavily affected by the COVID-19 pandemic, many small steel enterprises experienced a sharp decline in profit in the third quarter of 2021.

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