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.

Top 20 positions increased and decreased varied, the purchase volume is more than the holding position.

RINL-VSP CMD Mr PK Rath observed that the steel industry is showing signs of improvement in the country with the introduction of Government’s new initiatives in boosting the spending on infra, construction and auto sector.

Domestic prices of steel, of which India is among the three top global producers, are expected to climb 10-12 per cent this year.

The group said Hoa Phat’s products are sold in North America, Southeast Asia, India, Australia and Latin America.

The top 20 positions increased and decreased varied, the purchase volume is more than the holding position.

The ferrosilicon price didn’t change much this week.

China Baowu Steel Group, the nation's largest steelmaker, is approaching its target of becoming a global industry leader with an annual output of 100 million metric tons as it intends to acquire a controlling stake in Chongqing Iron and Steel Co Ltd.