"More efforts should be made to adjust and optimize the offerings and create more high-value items."

The majority of capital goods monitored by China's statistical authorities registered higher prices in early May compared with late April, official data showed Tuesday.

China's consumer price index, a main gauge of inflation, edged up 0.3 percent year-on-year in April, NBS data showed.

The Gerdau Charqueadas and Riograndense plants, located in the Brazilian southern state of Rio Grande do Sul, remain idled due to the intensive rains that have flooded the state.

Dinson Iron and Steel Company is gearing up to initiate test runs for its newly constructed steel plant in Manhize, near Mvuma, with plans to begin production as early as June.

In April 2024, the production of all main products of the Russian ferrous industry decreased compared to April 2023.

The volumes of steel affected in each unit, however, are not yet possible to estimate.

The German Embassy and the Vietnam Industry Agency are collaborating in Hanoi to decarbonize the steel industry.