[Ferro-Alloys.com] Indian steel industry has welcomed Indian Government’s decision to promulgate an ordinance to open up coal mining in the country to non coal companies. Indian Steel Association said “This is a huge reform announced by the Government on commercial mining in Coal. This change in Act will help the country to reduce its dependence on coal imports and help attract investments from Indian and Global corporates. The amendment will remove the end-user restrictions besides allowing seamless transfer of environment and forest clearance in operational mines. The step taken today was a long pending reform which will make the domestic steel industry more competitive on a global level.”

Shares of Jindal Steel and Power (JSPL) advanced over 4 per cent in Thursday's session after the company informed bourses that it registered strong growth in sales and production during the December quarter. 

Hebei province, China's leading producer of iron and steel, will continue with huge overcapacity cuts in 2020 amid an ongoing industrial upgrading, its governor Xu Qin announced Tuesday.

The province plans to cut production capacity of steel and iron by 14 million tons this year, Xu said when delivering a government work report at the opening of the local legislative session.