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The overall production capacity of crude Steel in India is no 8.4 million and the in last one year, steel companies has worked very hard and now the production capacity of India is increased by 3.4%. The global crude steel production(by all the companies of the world) was 132 million tonne which was 3.5 percent more from the last year.
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Currently, Bank of America forecasts hot-rolled steel prices will average $490/ton in 2021 and $475/ton in 2022 as new capacity puts downward pressure on prices. Raising eyebrows was the Sept. 28 announcement that mining company Cleveland-Cliffs was planning to acquire most of ArcelorMittal USA, after purchasing AK Steel earlier in the year.
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BALCO was incorporated in year 1965 as the first Public Sector Undertaking (PSU) in India and since then it has been closely associated with the Indian Industrial Growth, in a pivotal role. In 2001 Govt. of India disinvested 51% shares of Bharat Aluminium Company Limited (BALCO) to Sterlite Industries Limited a subsidiary of Vedanta Limited.
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