The Australia low-volatile premium hard coking coal price has fallen by over $64/t, or 21pc, from the start of the month to $247.45/t fob on 30 November.

Historically, crude oil and iron ore prices are strongly correlated, which is unsurprising given they are both commodities tied to the state of the global economy. But in recent weeks the link has largely been severed.

The Australian government's plans to cap the price of natural gas and thermal coal for domestic consumers has provoked the predictable howls of protest from the industry and warnings of dire consequences.

Kazakhstan's GDP expanded 2.7% y/y in Jan-Nov, PM says

U.S. steel mills shipped 7,210,301 net tons, a 12.2 percent decrease from the 8,215,071 net tons shipped in October 2021.

In November, the largest steel import permit applications were for Canada (561,000 NT, down 11% from October final), Mexico (422,000 NT, down 38%).

'Broad cooperation space' highlighted by officials in promoting clean development

On a month-on-month basis, the CPI fell by 0.2 percent, compared with a 0.1 percent rise in October.