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.
India's ArcelorMittal Nippon Steel (AM/NS) aims to raise its ferrous scrap use to 10pc by 2030 from the current 3-5pc, with it also calling for government policy support to enable the steel sector's decarbonisation.
Glencore Plc-backed Horizonte Minerals Plc is warning that it needs a whole new financing package to restart a nickel project in northern Brazil after a review revealed the mine will cost 87% more than thought.
Saeed Al-Rumaithi said steel demand in the second largest Arab economy grew from around 2.13 million tonnes in 2022 to about 2.5 million tonnes in 2023.