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

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

BHP and Oz Minerals agree on takeover deal

The domestic demand forecast was cautiously optimistic, according to market sources, led by stronger increased spending for the infrastructure market.

In the week ending on December 31, 2022, US domestic raw steel production was 1,602,000 net tons while the capability utilization rate was 71.8 percent.

Elevated production costs for Turkish producers amid low scrap availability and less slab purchasing options.

In November alone, production of finished steel reached over 1.82 million tonnes.