China's steel sector saw output expansion in the first quarter of the year, industrial data showed.

The curve is in a clear backwardation, with May trading on screen almost €50/t below the underlying Argus assessment, which stood at €834.25/t.

US exports to China totalled 439,924t in February, more than trebling compared with a year earlier.

Patrik Schober, a media representative of Tameh Czech, said negotiations are "under way" between the companies, but would not comment further.

Electric arc furnace (EAF) platemaker Nucor has increased its plate prices by $40/short ton (st).

Tata Steel aims to achieve net zero carbon emissions from its Indian operations by 2045, while India aims to reach net-zero emissions by 2070.

Iron ore exploration and development company Equatorial Resources (ASX:EQX) has entered into a conditional agreement with privately owned company Companhia Rio de Ferro to acquire the Nimba Alliance Iron Ore Project in Guinea, West Africa.

Indian private-sector steelmaker JSW Steel has successfully bid for the Jaisinghpura south iron ore block located in Ballari, Karnataka in an auction held in March.