Earlier this year, the association had forecast steel demand to drop by 1.7% in 2022.

The location of the second planned mill has not been announced.

At present, of the 17,244 tonnes of on-warrant nickel in LME warehouses in Rotterdam, briquette accounts for more than 92%.

A high backwardation continued to dampen import appetite, leading to thin liquidity, although offers were quoted higher.

Fastmarkets sources continued to insist that prices were in parity, as rare as the phenomenon is.

The problem is that there are more than 13m tons of HRC capacity coming online or planned to come online in the next three years.

Most of the capital goods in China posted lower prices in late October compared with mid-October, official data showed Friday.

Vietnam spent nearly 10.3 billion U.S. dollars importing roughly 9.8 million tons of steel and iron in the first 10 months of this year.