Fastmarkets sources continued to insist that prices were in parity, as rare as the phenomenon is.

The MOU is to study the development of a high-quality iron ore logistics and processing facility, according to an NIDC statement circulated on Oct. 30.

“As a nation are very clear and very respectful of our treaties and our agreements,” Hernando said.

The location of the second planned mill has not been announced.

The sentiment for finished steel prices continued to slide as the November scrap buy week was underway, according to the most recent S&P Global Commodity Insights US steel market participant survey.

The sites receiving ResponsibleSteel certification were POSCO’s Pohang and Gwangyang Steelworks in South Korea and Tata Steel’s Jamshedpur site in India.

Earlier this year, the association had forecast steel demand to drop by 1.7% in 2022.

The two contracts have gained momentum on high volatility in the physical market that attracted greater futures interest.