Exports in May 2023: -0.1% on April 2023

Plate prices have remained flat during the same time period, creating a spread that is now $750/st.

Indian private-sector resources firm Vedanta has announced a strategic review of its steel and steel raw materials business, including potential sale of some assets.

Battery Age Minerals reports early success from maiden drilling at Falcon Lake Lithium Project, Canada

ArcelorMittal, Europe's largest steelmaker, says the process to shut down the French steelworks is "well under way", with the process taking 6-8 weeks in total owing to its complexity.

European DRI capacity is expected to rise to around 40mn t/yr in Europe from under 1mn t/yr at present as the steel sector looks to curb emissions.

The rally in prices earlier this year saw some marginal producers look to restart but rising costs and the easing of prices through April-May scuppered most plans.

Sales of the products in May increased by 26.08% month-on-month to 927,618 tonnes but were unchanged compared to the same period last year.