In 2021, Vietnam spent 11.5 billion dollars importing more than 12.3 million tons of steel and iron, down 7.1 percent in volume but up 42.6 percent in value against 2020, according to its General Statistics Office.

The recent operation of China's largest coal-bed methane field in Qinshui county in Jincheng city has made the headlines of the energy industry in Shanxi province.

China has introduced a catalogue of recommended energy-saving technologies and equipment to help enterprises improve energy efficiency and reduce costs.

Posco's initiatives are in line with South Korea's hydrogen roadmap as the country aims to establish large-scale domestic and overseas production bases and achieve 7.1pc of clean hydrogen power generation by 2036.

North American steelmakers Nucor and ArcelorMittal Dofasco have joined others in raising sheet prices.

The electric arc furnace (EAF)-based steelmaker announced the price decrease in a letter to customers on 29 November.

US third-quarter shipments to India almost trebled year on year to 1.7mn t. Shipments to Brazil were 27.3pc higher on the year, at 1.5mn t.

Community Union has written to UK prime minister Rishi Sunak urging him to "back Britain's steel industry".