Swedish start-up H2 Green Steel has raised €190mn ($189mn) in a financing round, for its initiative to decarbonise steel production by around 95pc using renewable hydrogen.

Integrated steelmaker US Steel and its union membership appear to be at an impasse over contract negotiations.

Brazil's power market will not need to choose between sustainability or generation capacity if both are priced efficiently.

South Korean ferrous scrap imports fell by 24pc from a year earlier in July because of cheaper domestic scrap and high inventory levels.

More European steelmakers are announcing increases following ArcelorMittal's announcement last week.

Several presenters pointed to new markets opening up for magnesium metal usage in lightweight die casting for EVs, battery housing and, further down the line, in the batteries themselves.

The increases are underpinned primarily by higher production costs.

Part of what will lead to increasing prices will be rising costs both for raw materials and energy, according to Kestenbaum.