These include changes to the Emissions Trading System (ETS) and a new levy on imports under the Carbon Border Adjustment Mechanism (CBAM) to prevent carbon leakage.

The sites receiving ResponsibleSteel certification were POSCO’s Pohang and Gwangyang Steelworks in South Korea and Tata Steel’s Jamshedpur site in India.

Earlier this year, the association had forecast steel demand to drop by 1.7% in 2022.

“As a nation are very clear and very respectful of our treaties and our agreements,” Hernando said.

The province's total import and export value from January to September hit 260.91 billion yuan ($35.96 billion), up 16.4 percent year-on-year.

The problem is that there are more than 13m tons of HRC capacity coming online or planned to come online in the next three years.

The Great Lakes Clean Hydrogen Partnership made up of Linde, Energy Harbor, GE Aerospace, Cleveland-Cliffs steel manufacturing and the University of Toledo has moved forward with its US Department of Energy hydrogen hub application.

The MOU is to study the development of a high-quality iron ore logistics and processing facility, according to an NIDC statement circulated on Oct. 30.