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.

Since its first iron ore shipment to China in 1973, Rio Tinto has supplied China with more than 3.5 billion tons of high-quality iron ore.

The daily trading volume on the LME, inclusive of the liquidity window, totaled 16,930 mt on Nov. 1 and 33,430 mt on Nov 2.

Most of the capital goods in China posted lower prices in late October compared with mid-October, official data showed Friday.

The company signed a cooperation agreement with Xinjiang Bayi Iron and Steel at the fourth CIIE in 2021 to provide the latter with approximately 4 million metric tons of iron ore worth $460 million this year.

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 Great Lakes Clean Hydrogen Partnership made up of Linde, Energy Harbor, GE Aerospace, Cleveland-Cliffs steel manufacturing and the University of Toledo has moved forward with its US Department of Energy hydrogen hub application.

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.