And the EAF will only enable the company to produce around 2.5mn t/yr of hot-rolled coil (HRC), impacting Tata's downstream operations, union sources suggest, citing information from consultancy Syndex.

Besides Tianjin, Hebei province neighboring Beijing is China's top steel producing province.

China will strive to expand its carbon trading market as soon as possible, as both trade volume and prices in the program are increasing, Zhao Yingmin, vice-minister of ecology and environment, said on Monday.

Weekly Italian rebar and drawing-quality wire rod assessments softened by €5/t to €600/t ex-works and €660/t delivered.

Just becoming a secondary steelmaker will mean the country cannot produce all the requisite grades for its automotive industry, it added.

India's private-sector steelmaker JSW Steel has announced a 13.2mn t/yr greenfield steel manufacturing complex in Paradip, Odisha.

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.

The volume review could technically be finalised and in place for 1 July, but Griffiths said the timeline is tight.