The company signed a cooperation agreement with Xinjiang Bayi Iron and Steel at the fourth CIIE in 2021 to provide the latter with approximately 4 million metric tons of iron ore worth $460 million this year.

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.

The London Metal Exchange is to launch a number of new initiatives to boost the screen liquidity of its cash-settled ferrous futures contracts, it announced during the LME Focus Day event on Oct. 27.

The daily trading volume on the LME, inclusive of the liquidity window, totaled 16,930 mt on Nov. 1 and 33,430 mt on Nov 2.

The province's total import and export value from January to September hit 260.91 billion yuan ($35.96 billion), up 16.4 percent year-on-year.

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.

Vietnam spent nearly 10.3 billion U.S. dollars importing roughly 9.8 million tons of steel and iron in the first 10 months of this year.