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The daily Argus ICX 62pc iron ore index was at $117.35/dry metric tonne on 3 January, down by 2.2pc from a year earlier.

Japan produces around 1mn permanent magnet synchronous motors for vehicles each year, according to trade ministry data.

India's largest iron ore producer NMDC has raised its iron ore prices for January, the second straight month of increase.

A year ago the spread was $1,058/st as HRC prices were plunging from record-high levels.

Africa can produce 50Mt/y of green hydrogen at less than �2/kg by 2035, report shows

BHP and Oz Minerals agree on takeover deal

Finished Import Market Share YTD at 24%

Finished Import Market Share Estimated at 23 Percent in December.