ln a surprising turn, Oman, despite lacking the internal capacity for corresponding slab production, has successfully expanded its export volume.

In a significant step towards sustainable industrial development, Oman has officially initiated the construction of a pioneering green steel plant

The firms also plan to develop neighbourhood EVs and internal combustion engine vehicles and create a sustainable auto ecosystem in India.

Japanese ferrous scrap exporters lifted shipments to a two-year high in October.

The global rate was 75.3pc, up slightly from 74.3pc.

In January the firm agreed to develop renewable energy projects with Azerbaijan's state-owned Socar for a total combined capacity of 4GW.

The world’s second-largest miner by market value said Wednesday it expects to contribute roughly $6.2 billion to the initial development of the Simandou mine, including port and rail infrastructure needed to export the ore.

Most rail cars that Rio Tinto uses at its mines in Western Australia are from China's CRRC Qiqihar Rolling Stock, a CRRC subsidiary in Northeast China's Heilongjiang province, he said.