Multiple producers have faced that tough choice in recent months.

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

“Parties are still engaging,” Transnet spokeswoman Ayanda Shezi said in a reply to questions.

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.

“Parties are still engaging,” Transnet spokeswoman Ayanda Shezi said in a reply to questions.

SATAWU calls off Transnet strike, members to return to work on Thursday

Fortescue Chairman Andrew Forrest, Australia’s richest person, launched FFI in 2020 with an ambitious goal to produce 15 million tons of green hydrogen by 2030.

US domestic raw steel production was 1,688,000 net tons while the capability utilization rate was 75.7 percent.