Fastmarkets sources continued to insist that prices were in parity, as rare as the phenomenon is.

The MOU is to study the development of a high-quality iron ore logistics and processing facility, according to an NIDC statement circulated on Oct. 30.

The London Metal Exchange is to launch a number of new initiatives to boost the screen liquidity of its cash-settled ferrous futures contracts, it announced during the LME Focus Day event on Oct. 27.

The sentiment for finished steel prices continued to slide as the November scrap buy week was underway, according to the most recent S&P Global Commodity Insights US steel market participant survey.

“As a nation are very clear and very respectful of our treaties and our agreements,” Hernando said.

Semiconductor shortages, as well as other logistical issues, have roiled automotive production in the US and around the globe since 2021. Lower automotive production rates have subsequently cut demand for steel in the sector.

The sites receiving ResponsibleSteel certification were POSCO’s Pohang and Gwangyang Steelworks in South Korea and Tata Steel’s Jamshedpur site in India.

These include changes to the Emissions Trading System (ETS) and a new levy on imports under the Carbon Border Adjustment Mechanism (CBAM) to prevent carbon leakage.