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The China Iron and Steel Association's cornerstone plan will also further ensure domestic energy security.

Nucor is spending $3bn to acquire CHI Overhead Doors from investment fund Kohlberg Kravis Roberts, the company said.

Japan's economy posted a contraction during January-March after a rebound the previous quarter, as the country's Covid-19 sub-emergency restrictions dented consumer spending and capped fuel consumption.

US hot rolled coil (HRC) prices took their largest fall today since the beginning of February as mills continued to lower prices and buyers pushed for steeper discounts.

UK-Australia resources firm Rio Tinto expects to benefit from an increased demand for metals and minerals needed to tackle climate change.

Industry ramps up efforts for technological upgrades, intelligent and green manufacturing transformation.

Efforts should also be made to ensure stable supplies and prices, he said.

In 2021, US imports of HRC totaled 3.4mnt, with CRC imports at 1.71mn t and HDG imports at 2.69mn t.