According to Reuters, the company will spend $6.88 billion to build a steel plant in eastern India’s Odisha under an agreement with ArcelorMittal Nippon Steel India.

It is understood that the current U.S. steel plant capacity utilization rate is only 75%, far below last February 82% level.

A few days ago, the chairman of the world iron and steel association, party secretary of hegang group, chairman yu yong and bhp chief executive officer Mike Henry around carbon reduction and climate change and further strengthen cooperation in low-carbon metal...

Buyers started cutting the proportion of direct-charge materials in January — first reducing pellet usage and then lowering the lump proportion, sources said.

The pilot programme might not affect the ratio of iron ore in mills' blends, which has seen less direct-charge use recently, but total output might be reduced, a mill iron ore buyer said.

According to the latest data of the World Iron and Steel Association, in January, the crude steel output of 64 countries included in the statistics of the world iron and Steel Association was 162.9 million tons, up 4.8% year-on-year.

Baidu owns 55pc of the joint venture and Geely 45pc. Other details, including the location, construction schedules and design capacity were undisclosed.

June prices increased by $30/st to $1,070/st, while July prices rose by $31/st to $1,004/st. August futures prices rose by $18/st to $956/st.