OEUK estimates only nine exploration and appraisal wells be drilled this year, down from around 60 in 2010.

US plate maker Nucor kept its plate prices for December flat.

Its July-September production fell by 77pc from a year earlier to 30,000t.

Orion Minerals partners up at Okiep

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

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.

Most of the capital goods in China posted lower prices in late October compared with mid-October, official data showed Friday.