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Steelmakers Urged to Enhance Decarbonization Strategies, Says OECD Panel

Steelmakers' decarbonization strategies need to be more comprehensive, according to discussions at the OECD COP29 Virtual Pavilion. Michele Rimini, head of the OECD's steel decarbonization unit, emphasized the importance of detailed implementation in steel companies' ambitious strategies. He noted that while the availability of scrap and hydrogen is crucial for decarbonization, it is unevenly distributed and affected by export restrictions. Hiroyuki Tezuka from JFE Steel highlighted that increased scrap usage by one company limits availability for others, and stressed that hydrogen is critical not only for hydrogen-based DRI production but also for injection into blast furnaces. He warned that high-quality iron ore, which constitutes only about 10% of global supply capacity, will become increasingly scarce as demand for hydrogen DRI rises.

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Iron ore futures extend gains as China outlines stricter steel capacity controls

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Baosteel Q3 net profit jumps 130% on demand recovery and resilient exports

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China lifts curbs on Hancock Prospecting’s MB fines purchases, easing iron ore trade friction

Copper edges higher as LME Week chatter points to $12,000/t; rate-cut signals support prices

China’s CISA mills lift early‑October crude steel output 7.5%; inventories also climb

India’s steelmakers seek relief from import curbs as H1 met coke shortfall widens

Aurubis shares fall after Salzgitter issues €500m exchangeable bonds tied to 7.6% stake

China iron ore futures slip; Tangshan concentrate prices steady amid tight supply

Indonesia suspends all scrap metal imports after radioactive contamination detected

Serbia asks EU to exempt it from proposed new steel tariffs and quota cuts