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 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.

The sentiment for finished steel prices continued to slide as the November scrap buy week was underway, according to the most recent S&P Global Commodity Insights US steel market participant survey.

Vietnam spent nearly 10.3 billion U.S. dollars importing roughly 9.8 million tons of steel and iron in the first 10 months of this year.

The company, also known as China Energy, has signed with 40 companies from 18 countries and regions for contracts worth $2.5 billion (17.9 billion yuan) during the fifth CIIE.

Last November in Glasgow, the world’s climate leaders were locked in a fierce debate over whether the final draft of the summit’s agreement should include a pledge to “phase-out” or “phase-down” coal.

Although Brazilian miner Vale is focusing on cost control in response to the global economic slowdown, it also advances key projects.

Steelmaker Ternium, controlled by Italian-Argentine group Techint, saw its Q3 net income fall by more than 80% year-on-year to US$220mn.