Indian steel precision tube manufacturer Tube Investments of India Limited (TIIL) has firmed up plans to set up a greenfield production facility entailing an investment of $25.42 million, the company said in a statement on Tuesday,October 31.
Domestic steel consumption grew strongly in the first half of the financial year in a clear signal that Indian manufacturing continues on a robust growth path despite global headwinds.
Reserves of high-grade nickel ore in top producer Indonesia may be depleted in around six years, a miners¡¯ association has warned, risking shortages of the material used to make stainless steel.
Experts are optimistic that despite the negative trend in the steel sector, the sector will recover in 2024 due to the government's actions in the property market and construction sector.