This year-to-date rise in scrap exports comes despite rumors of market resistance in Japan to the practice of exporting higher grades of material.

“The demand for that type of steel is going to far outpace the supply of that material,” he added.

“The demand for that type of steel is going to far outpace the supply of that material,” he added.

A scoping study into the Buena Vista iron-ore project, in Nevada, has estimated that the project could produce 1.6-million tonnes a year of concentrate over a mine life of 25 years.

These sites are projected to reduce CO2 emissions per metric ton of raw coal by over 20 percent compared to 2020 levels, and achieve net-zero emissions by 2030.

Brazilian mining giant Vale SA has vowed to step up investment in low-carbon solutions along the steel value chain in China, according to its top executive.

Major Rio Tinto on Friday announced that the Simandou Joint Venture (JV) partners had concluded key agreements with the Republic of Guinea and the Winning Consortium Simandou (WCS) on the trans-Guinean infrastructure for the Simandou iron-ore project.

Competing service center Ryerson expects shipments to be down by 5.1-7pc in the third quarter from a year earlier.