Rio Tinto reported a 5% fall in its first-quarter iron ore shipments on Wednesday, missing estimates, because of weather disruptions at ports and reduced production from some of its Western Australian mines.

Rio Tinto releases first quarter production results.

The figures, released every 10 days, are based on the survey of nearly 2,000 wholesalers and distributors in 31 provincial-level regions across the country.

The three-phase project will use natural gas as a reducing agent instead of coke and coal, Fastmarkets heard.

But demand for long steel products is set to remain subdued, given the poor demand outlook from the construction sector, Zuo added.

Established with a donation of $5.81 million from Vale, the joint laboratory will be open to all the researchers from the mining and steel industry from today, it said.

Many companies in what are considered to be sunset industries have actually regained their vitality through innovation and transformation.

The CBAM puts a price on the carbon emitted during the production of carbon intensive goods entering the EU. It started trial operation in October last year, and will be implemented from 2026 onward.