India's largest iron ore producer state-controlled NMDC rolled over its prices for a second straight month in October.

Australian resources firm BHP has kept its iron ore production guidance for the 2022-23 fiscal year to 30 June unchanged with sustained output.

Rio Tinto, BHP, Fortescue and Roy Hill loaded vessels with a combined 17.12mn deadweight tonnes (dwt) of capacity.

Rio last month said it would team up with China Baowu Steel Group to develop an iron ore project for $2 billion as it looks to prop up its production from the Pilbara region.

The higher production comes despite an 18% fall in spot prices of iron ore over the September quarter.

Spot prices of ore bound for China, maker of about half the world’s steel, have fallen roughly 40% from this year’s peak above $160 in March.

Vale is set to release earnings Oct. 27 after the close of regular trading.

Europe is also bringing legislation that offers incentives for the use of green hydrogen, he said.