Iron-ore futures in Singapore touched $130 a ton for the first time since March on improving demand for steel in China, which is considering a new wave of stimulus to shore up the struggling property sector

Sales and purchases were reported at $900/st for a few hundred short tons up to 1,000st.

Manufacturing production across the EU fell by more than 6pc on the year in September, the largest drop for any month since June 2020.

US steelmakers were able to secure higher hot-dipped galvanized (HDG) coil pricing this week as supply tightened further.

Morgan called on Germany's energy sector to advance rapidly in its decarbonisation plans, with coal ideally to be phased out by 2030.

The American Iron and Steel Institute (AISI) reported that for the month of September 2023, U.S. steel mills shipped 7,252,942 net tons.

The American Iron and Steel Institute (AISI) reported that for the month of September 2023, U.S. steel mills shipped 7,252,942 net tons.

Obiang said on his social media platforms late Wednesday that this investment has the potential to strengthen the country's economy.