China's largest steel producer, Shanghai Baosteel, has set its eyes on Baotou Iron & Steel Group after global steel baron, Lakshmi Mittal's bid for a 50 per cent stake in the Chinese company faltered.
Led by the record increase in benchmark iron ore prices, steel rates are set to climb steeply from August, immediately after the three-month period during which steel producers had promised the government to hold prices gets over.
Steel firms brace for good times on the back of better demand.
Two projects in Iran, which India is to execute involving major financial commitments on its part, are of particular significance for Indian steel.
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