“Parties are still engaging,” Transnet spokeswoman Ayanda Shezi said in a reply to questions.

Spot prices of ore bound for China, maker of about half the world’s steel, have fallen roughly 40% from this year’s peak above $160 in March.

Vale is set to release earnings Oct. 27 after the close of regular trading.

Multiple producers have faced that tough choice in recent months.

Europe is also bringing legislation that offers incentives for the use of green hydrogen, he said.

“Parties are still engaging,” Transnet spokeswoman Ayanda Shezi said in a reply to questions.

SATAWU calls off Transnet strike, members to return to work on Thursday

Down 2.1 Percent YTD in 2022 from Same Period in 2021.