Nucor acknowledges it was interested in acquiring some of United States Steel's assets, but dropped out of the bidding near the end over concerns about the price.

Nippon Steel declined to comment on the possible issuance of bonds and new shares.

Global mining giant BHP announced on Friday that it has kicked off a commercial-scale direct reduced iron production project with China Baowu Steel Group Corporation to support steelmaking decarbonization development in China.

The European Commission's "preferred option" for the EU's 2040 greenhouse gas (GHG) emissions reduction target is 90-95pc — from 1990 levels — according to a draft document.

The UK government is putting Tata Steel at a disadvantage compared with its European peers with the comparatively low level of funding it is providing to help the company decarbonise.

Trade unions want the UK government to commit more cash to Tata Steel, enabling it to invest more in decarbonising south Wales' Port Talbot plant.

Brazilian mining company Vale expressed optimism about the growth prospects of the Chinese economy and asserted its strategic position to contribute to China's high-quality development.

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