The hydropower station, considered a backbone of China's electricity system, transmits clean electricity mainly to eastern, central and southern China.

China PPI for June -5.4% y/y (expected -5.0%)

Ukraine-focused miner Ferrexpo posted an 18% jump in second-quarter production from the previous quarter, buoyed by stable production from first pelletiser line and initial contribution from second line after resumption in February.

Steelmaker Ternium said on Wednesday it had resumed operations at an iron-ore mine in Mexico after a more than five-month hiatus sparked by clashes between the firm and local community over the disappearance of two environmental activists.

Steel prices are expected to rise again soon.

North American steel scrap prices could face their third consecutive month of decline across all grades in July as traditional summer production slowdowns hinder demand.

Taking center stage this year were questions over premiums on and standards for green steel, carbon tariffs at the border, the stability of scrap supply in the US and hydrogen’s promising role in decarbonizing steel production.

Inner Mongolia is by far the biggest in terms of market share in the first four months of 2023, with 36.34%, while Ningxia was second on 12.24%.