The European stainless steel scrap market is facing a near-term demand crisis and high uncertainty going into the fourth quarter...

Hot-rolled coil advanced 2.3%, while stainless steel gained 0.3%.

Amid volatility in most commodity markets, iron ore has been relatively stable over the past two months.

The report highlights that, in 2021, shipments from domestic steel mills measured 94.7 million net tons (NT), up 16.9 percent from the previous year.

In the week ending on October 1, 2022, domestic raw steel production was 1,700,000 net tons while the capability utilization rate was 77.1 percent.

Vale added in a securities filing, however, that no decision has been reached yet on any potential transaction.

The company held guidance on FFI’s annual operating expenditure unchanged at $500 million to $600 million.

Exports to the three major destinations — South Korea, Vietnam and Taiwan, China.