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.

In the week ending on October 28, 2023, US domestic raw steel production was 1,707,000 net tons while the capability utilization rate was 74.3 percent.

Finished Import Market Share YTD at 22%.

October is the strongest volume month for the CME Group's North European hot-rolled coil (HRC) contract since February of this year.

US Steel's cold-rolled coil (CRC) pricing was increased to $1,150/st.

Electric arc furnace (EAF) steelmaker Nucor is dropping its discrete plate prices by $140/short ton (st).

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.

It attributed its optimism to growth-stabilizing policies and rising demand from fields like new energy vehicles and solar energy.