“The demand for that type of steel is going to far outpace the supply of that material,” he added.

“The demand for that type of steel is going to far outpace the supply of that material,” he added.

Brazilian mining giant Vale SA has vowed to step up investment in low-carbon solutions along the steel value chain in China, according to its top executive.

Major Rio Tinto on Friday announced that the Simandou Joint Venture (JV) partners had concluded key agreements with the Republic of Guinea and the Winning Consortium Simandou (WCS) on the trans-Guinean infrastructure for the Simandou iron-ore project.

Largo Reports Second Quarter 2023 Financial Results

Competing service center Ryerson expects shipments to be down by 5.1-7pc in the third quarter from a year earlier.

Queensland coal shipments hit a 3½-year high in June, bolstered by increased throughput from Dalrymple Bay Coal Terminal and Gladstone ports.

The International Steel Trade Association (ISTA) has written to the UK minister for international trade challenging Tata Steel UK's hefty imports of Indian hot-rolled coil (HRC).