Brazil increased its power generation capacity by 8.2GW in 2022, with fossil-fueled thermal plants accounting for 16pc of total growth.

The daily Argus ICX 62pc iron ore index was at $117.35/dry metric tonne on 3 January, down by 2.2pc from a year earlier.

US steelmaker Nucor has kept its plate pricing flat, a month after it dropped prices by triple digits.

Indonesia's energy ministry (ESDM) has set the country's coal production target at 694mn t for 2023, around 5pc higher than the 2022 target of 663mn t, which has been exceeded.

A year ago the spread was $1,058/st as HRC prices were plunging from record-high levels.

India's largest iron ore producer NMDC has raised its iron ore prices for January, the second straight month of increase.

Japan produces around 1mn permanent magnet synchronous motors for vehicles each year, according to trade ministry data.

Africa can produce 50Mt/y of green hydrogen at less than €2/kg by 2035, report shows