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Vale is a major global producer of iron ore, copper and nickel.

The company and Indonesian energy and mineral resources ministry could not be reached for comment.

DCH Group acquired the mine from Evraz Group back in May 2017.

The American Iron and Steel Institute(AISI) reported that for the month of August 2023, US steel mills shipped 7,663,767 net tons, unchanged from the 7,675,344 net tons shipped in August 2022.

the US steel import market share in August 2023 was estimated at 21 percent, compared to 21 percent in July and 22 percent year-to-date.

Steel producers globally are attempting to slash the climate impact of an industry that accounts for about 8% of energy sector emissions

Alacero expressed "its concern regarding the process of regulation and implementation" of the EC's carbon border adjustment mechanism.

Robust steel exports from China have emerged as a major driver supporting steel production at a time when demand activity from the country's largest steel consumer -- the property sector -- has remained muted for the most part of this year.