Calix unveils green iron and steel technology

US hot-rolled coil (HRC) prices dropped this week on lower sales and offers, amid continued limited spot market activity.

Demand also remains strong in Europe, with end user first-quarter tenders for over 3,000t and suppliers struggling to respond.

China's largest steelmakers scaled back production in late October to the lowest since March 2018, after slightly increasing output from lows in late September.

JSW's average capacity utilisation rose to 95pc during October compared with 89pc a year earlier and the highest since March this year when it was 96pc.

Australian iron ore mining firms Fenix and Fe Limited are using hedging to keep operating, with most of their unhedged rivals having stopped production or development with the reality of a more than halving of the iron ore price over the past four months.

"We will be carrying out planned maintenance in some of our mills during this period, although there will be no impact on customers," a company spokesperson said.

Giyani raises $10m to advance K.Hill, boost working capital