Hoa Phat Group has signed a contract to export 10,000 tonnes of steel wire in coil form to Europe.

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

However, the net debt to equity ratio of steel companies is still significantly better than in the 2010-2019 period.

Europe may continue to dominate US thermal coal exports in 2023 but demand for high-sulfur coal may wane.

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

By September this year, the number of iron and steel enterprises in the northern Chinese province had been slashed to 39 from 123 about 10 years ago.

After the reorganization, Sinosteel will no longer be under the direct regulation of the SASAC.

The channel is also a major route for China's west-to-east coal transportation, ensuring the country's energy consumption demand is met.