Indonesian state-owned utility PLN last week targeted a cut to GHG emissions this year of 32mn t.

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

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

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

Orion Minerals partners up at Okiep

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.

These include changes to the Emissions Trading System (ETS) and a new levy on imports under the Carbon Border Adjustment Mechanism (CBAM) to prevent carbon leakage.