Iron ore prices fell back below $100 per tonne at the end of September
Shoppers have largely finished their pre-holiday stocking up
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Australia and China are joining forces to decarbonise the steel industry
The initiative is a step towards creating a platform to accelerate the transition to low-carbon steelmaking
The US saw a 3.4% m/m increase in steel imports in August
Imports of rolled steel for the period totalled 1.6 million short tonnes
Global excess steel production capacity is set to reach 721 million by 2027 — OECD
Against the backdrop of this problem, the global steel industry is facing the challenges of decarbonisation
Vale has acquired a 30% stake in the Brazilian iron ore producer Ligga
Under the terms of the agreement, Vale will be granted the exclusive right to acquire 100% of the company’s sinter
Azerbaijan has presented its iron and steel sector development programme up to 2030
New production facilities with an export potential of around $2 billion a year will be established in the country
ArcelorMittal is unable to resume safe operations at its Ukrainian plant
The future of the plant is being discussed with the government; the company will focus on maintaining the infrastructure
Global pig iron production fell by 2.2% y/y over the eight-month period
China’s production fell by 3.1% y/y in January–August
Spain proposes a compromise to resolve the dispute over the ‘Made in EU’ initiative
The cause of the dispute is the extent to which goods from other countries will be eligible for European subsidies
Ukrainian steel should be exempt from the CBAM — Pascal Lami
There is a lobby within the European Parliament that is pushing this issue
Ukraine increased imports of long steel products by 46% y/y in January–August
However, in August, imports fell by 75% m/m
South Korea’s HMM has signed a $3.5 billion contract with Vale to transport ore
Chartering and transport operations will commence in 2030
British businesses are calling on the government to scrap the additional electricity charges
Rising energy costs are making local businesses uncompetitive
Ukraine and the EU will hold consultations on funding for 2026–2027
The parties must determine the size of the shortfall and possible sources of funding
ArcelorMittal has temporarily shut down blast furnace A at its plant in Gijón following a steam explosion
The unit is scheduled to be restarted on 12 September
The European Commission has scrapped restrictions on the export of aluminium scrap
Europe produces around 6.2 million tonnes of secondary aluminium every year
Ukraine exported 5.3 million tonnes of ore by rail via Slovakia over an eight-month period
Ore accounts for around 86% of total exports by rail
Volkswagen’s restructuring could cost €16 billion
Social security payments relating to job cuts alone could amount to as much as €10 billion
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