Hot-rolled coil advanced 2.3%, while stainless steel gained 0.3%.

The world’s steel production stood at 1.95 billion tonnes in 2021, according to the World Steel Association.

Amid volatility in most commodity markets, iron ore has been relatively stable over the past two months.

This volume is only below what was recorded in September 2020, when Brazil exported 37.47 million tonnes for the month.

Toronto-listed Teck Resources said on Thursday that its third-quarter steelmaking coal sales were 5.6-million tonnes, which was within its revised guidance of 5.5-million to 5.9-million tonnes.

“No one seems to be in a hurry to get anything signed right now,” a second producer agreed.

US Steel separately repurchased approximately $300 million of outstanding debt last week, the company noted in the same release.

In a bid to produce emissions-free steel, Boston Metal believes in skipping the green hydrogen step in the steelmaking process.