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The United States will roll over its suspension of tariffs on European Union steel and aluminum if the two sides need more time to agree on measures to address overcapacity and low-carbon production, the US ambassador to the EU said on Wednesday.

The Australian government will double the amount of money on offer to support critical minerals projects, aiming to attract American miners and processing companies to establish operations in Australia.

Experts are optimistic that despite the negative trend in the steel sector, the sector will recover in 2024 due to the government's actions in the property market and construction sector.

Inner Mongolia Ulanqab Leading China Ferroalloys Industry Development Ferro-Alloys.com visiting

Largo Reports Third Quarter 2023 Production and Sales Results

$2 billion critical minerals boost crucial to energy transition

With robust signs from the realty and construction sectors, the steel market will recover soon, he added.

Prices remain down by 33pc from their April peak of $1,200/st.