In the first two months, Guangdong's import and export with Brazil and Chile increased by 24.8 percent and 14.4 percent, respectively, it said.

In order to reach these targets, UBA President Dirk Messner called for a "much faster pace in the expansion of renewable energies."

US integrated steelmaker Cleveland-Cliffs has increased its flat steel prices by $100/short ton (st), targeting a minimum hot-rolled coil (HRC) price of $1,200/st.

The plant will use biogas feedstock and iron ore as a catalyst to also produce 380 t/yr of graphitic carbon, he said.

The Argus weekly domestic US HRC Midwest and southern assessments both increased by $50/short ton (st) to $1,150/st.

Demand has remained steadier for longer than the market had expected, with talk of a recession pushing further out into the year and lessening in severity.

Coal shipments from Gladstone were at a record low in February following a derailment outside the port.

The Argus US plate ex-works assessment has been relatively flat at around $1,480/st since early December.