And the EAF will only enable the company to produce around 2.5mn t/yr of hot-rolled coil (HRC), impacting Tata's downstream operations, union sources suggest, citing information from consultancy Syndex.

Besides Tianjin, Hebei province neighboring Beijing is China's top steel producing province.

China will strive to expand its carbon trading market as soon as possible, as both trade volume and prices in the program are increasing, Zhao Yingmin, vice-minister of ecology and environment, said on Monday.

India's private-sector steelmaker JSW Steel has announced a 13.2mn t/yr greenfield steel manufacturing complex in Paradip, Odisha.

Weekly Italian rebar and drawing-quality wire rod assessments softened by €5/t to €600/t ex-works and €660/t delivered.

Just becoming a secondary steelmaker will mean the country cannot produce all the requisite grades for its automotive industry, it added.

The volume review could technically be finalised and in place for 1 July, but Griffiths said the timeline is tight.

Structural changes in the hot-rolled coil (HRC) market could see the historical premium for north European material narrow, if not evaporate, compared with Italian in the coming years.