"Pretty much everyone accepts the current level [of premiums] is the new reality", a trader said.

US hot rolled coil (HRC) spot prices moved down as the market remained quiet due to the Christmas holiday.

The domestic demand forecast was cautiously optimistic, according to market sources, led by stronger increased spending for the infrastructure market.

Elevated production costs for Turkish producers amid low scrap availability and less slab purchasing options.

Europe may continue to dominate US thermal coal exports in 2023 but demand for high-sulfur coal may wane.

The channel is also a major route for China's west-to-east coal transportation, ensuring the country's energy consumption demand is met.

After the reorganization, Sinosteel will no longer be under the direct regulation of the SASAC.

By September this year, the number of iron and steel enterprises in the northern Chinese province had been slashed to 39 from 123 about 10 years ago.