World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 151.7 million tonnes (Mt) in September 2022, a 3.7% increase compared to September 2021.

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JISPL's production plunged by 77pc on the year to 30,000t during July to September.

Indian private-sector producer JSW Steel has signed an initial deal with US-based finance technology firm Smartex to explore low-emissions steel production.

The federal government also has a renewable energy target of 82pc by 2030, up from around a third currently.

UK-Australian mining firm Rio Tinto expects to come in at the bottom of its 320mn-335mn t guidance for 2022.

The Argus weekly domestic US ex-works plate assessment was flat at $1,620/st.

Volumes on the CME Group's north European hot-rolled coil (HRC) contract have already doubled compared to 2021.