Baoshan Iron & Steel (Baosteel) said on Friday it had agreed to buy a 48.6% stake in a steelmaker for 10.7 billion yuan ($1.49 billion) from Shandong Iron & Steel Group.

ln a surprising turn, Oman, despite lacking the internal capacity for corresponding slab production, has successfully expanded its export volume.

In a significant step towards sustainable industrial development, Oman has officially initiated the construction of a pioneering green steel plant

The global rate was 75.3pc, up slightly from 74.3pc.

In January the firm agreed to develop renewable energy projects with Azerbaijan's state-owned Socar for a total combined capacity of 4GW.

Japanese ferrous scrap exporters lifted shipments to a two-year high in October.

The firms also plan to develop neighbourhood EVs and internal combustion engine vehicles and create a sustainable auto ecosystem in India.

The world’s second-largest miner by market value said Wednesday it expects to contribute roughly $6.2 billion to the initial development of the Simandou mine, including port and rail infrastructure needed to export the ore.