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US third-quarter shipments to India almost trebled year on year to 1.7mn t. Shipments to Brazil were 27.3pc higher on the year, at 1.5mn t.

Posco's initiatives are in line with South Korea's hydrogen roadmap as the country aims to establish large-scale domestic and overseas production bases and achieve 7.1pc of clean hydrogen power generation by 2036.

The electric arc furnace (EAF)-based steelmaker announced the price decrease in a letter to customers on 29 November.

North American steelmakers Nucor and ArcelorMittal Dofasco have joined others in raising sheet prices.

German automakers Mercedes-Benz and BMW sign up to use eco-friendly materials.

Major imported goods were coal, natural gas, agriculture products, and metal ore.

Despite this, the industrial structure of profits continue to improve, with the equipment manufacturing industry registering a rebound in profits for six consecutive months.

From the most to the least, energy is mainly consumed by the EU's industry sectors, transport, households, services and agriculture.