Nippon Steel said on Wednesday that AMNS, its Indian joint venture with ArcelorMittal, will spend 410 billion rupees ($5 billion) to build two blast furnaces and other facilities at its Hazira plant, doubling its crude steel capacity to about 6 million tonnes per year. AMNS is also considering building a new steel mill in eastern India.

The Vietnamese government plans to vigorously develop the metallurgical industry. Data show that in 2000, Vietnam's potential iron-making capacity was only about 270,000 tons/year, while the current pig iron capacity has exceeded 14 million tons/year, with the largest increase starting in 2017.

Recently, the US dollar continued to strengthen, the central parity rate of the renminbi against the US dollar today at 7.0298, adjusted to fall 378 basis points. So far this year, the central parity rate of the yuan against the dollar has fallen 10.26%.

The central bank has set up a special re-loan for equipment renovation, which specifically supports financial institutions to provide loans for the renovation and renovation of equipment in the manufacturing industry, social service fields, small, medium and micro enterprises, and individual industrial and commercial households at an interest rate not higher than 3.2%. The special re-loan amount for equipment renovation and renovation is more than 200 billion yuan , the interest rate is 1.75%, the term is 1 year, and it can be extended twice, each time of which is 1 year.

In the first half of 2022, China's steel exports and imports showed a trend of simultaneous contraction year-on-year. Many industry analysts believe that the challenges facing the future development of the industry are still great, and the growth rate of China's steel exports is likely to continue to decline in the second half of the year.