In a significant move towards environmental sustainability, Baosteel and ExxonMobil have formalized their commitment to collaborate on low-carbon solutions.

"Four Modernizations" and "Four Have" complement each other, enhancing Baowu's innovation and value creation abilities.

BHP Records Iron-Ore Production Decline in 1st Half — Commodity Comment

Turkey’s Tosyali to invest $5bln to build steel plant in Saudi Arabia

South Korea steel giant Posco raises $500 million in 3 tear US dollar green bond

The industry association will also continue to call for the restoration of export tax rebates for high-end steel products.

Also in 2023, new orders surged 56.4 percent year-on-year to 71.2 million deadweight tons, accounting for 66.6 percent of the global total, the data showed.

Supply chain growth, green shift, tech edge, market expansion are big factors.