Steelmaker Ternium said on Wednesday it had resumed operations at an iron-ore mine in Mexico after a more than five-month hiatus sparked by clashes between the firm and local community over the disappearance of two environmental activists.

European DRI capacity is expected to rise to around 40mn t/yr in Europe from under 1mn t/yr at present as the steel sector looks to curb emissions.

The rally in prices earlier this year saw some marginal producers look to restart but rising costs and the easing of prices through April-May scuppered most plans.

The new contracts have been added to the company’s existing hedging arrangements which now stand at 50 000 t/m between July 2023 and December 2023 at a fixed price of A$170.10/t.

Fortescue, one of the world's largest iron ore miners, has signed a Memorandum of Understanding (MoU) with China Baowu Steel Group Corporation to work together on reducing emissions associated with iron and steel making.

China will roll out more practical, effective measures to expand domestic demand and stoke market vitality, Premier Li told the World Economic Forum in Tianjin. Iron ore, used to make steel, surged by almost 4%.

neficiation…Concerned About Mineral Exportation In Small Quantities

JSW Steel also partnered with German technology company SMS Group to reduce carbon emissions and produce green steel in September 2022.