But the increase in sales prices has not been enough to offset rises in production costs, sources reported during the assessment period.

Over January-August, China's exports of semi-finished and finished steel increased by 30.6% on the year to 60.977 million mt.

Such certification would help because the ferro-alloys industry is quite energy-intensive and is a key target for state-driven green development plans.

“We have already had initial discussions with the major incumbent steelmakers in the US,” Chathu Gamage, principal at RMI said.

World crude steel production for the 63 countries reporting to the World Steel Association (worldsteel) was 152.6 million tonnes (Mt) in August 2023, a 2.2% increase compared to August 2022.

Recently, South Korea’s LG Chem Ltd has entered a partnership with China’s Huayou Group’s subsidiary Youshan to build a joint electric vehicle (EV) battery material plant in Morocco to diversify its portfolio.

Turkey's iron ore imports totaled 635,208 mt, declining by 12.2 percent compared to the previous month

The Philippines is eager to expand economic cooperation with the United States, particularly in critical minerals and production of battery components, Philippines Foreign Minister Enrique Manalo said on Friday.