Operational efficiency is the buzzword This fourth quarter results season, for the steel industry, seems to be written in red. The scenario seems grim for steel majors and the industry’s fortune cookie predicts that if the integrated manufacturers have to return to profit, the only way forward is to stress on increasing operational efficiency. Cover Story advises that since the topline is not increasing because of lack of demand, the only way to boost the bottomline is technological optimisation for achieving operational efficiency and thereby cutting costs. In focus: Mining, solar sectors can pump up industrial pumps sector Interview: While an upturn can be expected in another 12-18 months, Subrata Mitra, Joint Managing Director, M N Dastur & Co, warns that producers should not miss the bus this time. Interview: ExxonMobil sees scope for synthetic oil-based lubricants in future, says Imtiaz Ahmed, Mobil SHC Brand Manager- Asia Pacific, ExxonMobil Lubricants Private Ltd International: Will Down-Under iron ores reach Indian shores Decline in Chinese demand may impel Australia miners to look at India  Also watch out for our regular sections on coking coal prices, ferro alloys and corporates.