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.

Sohar Port and Freezone on Sunday signed a land lease agreement with Starsun Sohar (FZC) to establish a recycling plant dedicated to the sustainable management of lead-acid batteries in Sohar Freezone.

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

Vale will receive its pro rata share of Minas Rio production with completion of the deal. It will also have an option to acquire an additional 15pc stake in the enlarged Minas Rio for cash.

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

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

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.

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