Subdued construction demand is also a trigger for such cutbacks.

On Sept. 23, the Deutsche Boerse announced Wednesday evening in an online note.

"he two Indian steel companies will benefit from rising steel production on the back of continued demand growth."

The purpose of the proposed fundraising is refinancing its existing high-cost debt.

"I think steel touches all parts of the economy..."

Between January and August, Hoa Phat sold 252,883 tonnes of steel to the domestic market.

Steel groups were ranked among the most innovative steelmakers in terms of patents in China.

The Shanghai Futures Exchange can carry out trading in stainless steel futures.