The last increase was on 8 January, making this the fifth offer hike since mid-November last year of a total of €200/t.

U.S. Steel Corp. recently bought the remaining 50.1% of Big River Steel. The acquisition cost $774 million, while U.S. Steel spent about $700 million when it acquired a 49.9% stake in Big River Steel in November 2019.

SSAB intends to be a fossil fuel-free company by 2045, and to supply its first fossil fuel-free steel to the market in 2026.

Indian steelmaker JSW Steel aims to complete 5mn t/yr of expansion projects by the end of March, increasing its crude steelmaking capacity to 23mn t/yr.

However, there needs to be sufficient capacity in both the EU and UK quotas for this interim solution to be utilised.

The materials weighing 3,002 tonnes were shipped from Japan to east China's Shanghai.

According to CISA, in 2020, the sales revenue of key statistics iron and steel enterprises was 4703.3 billion yuan.

China's steel sector registered output expansion last year, industrial data showed.