The MOU is to study the development of a high-quality iron ore logistics and processing facility, according to an NIDC statement circulated on Oct. 30.

A high backwardation continued to dampen import appetite, leading to thin liquidity, although offers were quoted higher.

The sites receiving ResponsibleSteel certification were POSCO’s Pohang and Gwangyang Steelworks in South Korea and Tata Steel’s Jamshedpur site in India.

At present, of the 17,244 tonnes of on-warrant nickel in LME warehouses in Rotterdam, briquette accounts for more than 92%.

The London Metal Exchange is to launch a number of new initiatives to boost the screen liquidity of its cash-settled ferrous futures contracts, it announced during the LME Focus Day event on Oct. 27.

The location of the second planned mill has not been announced.

The sentiment for finished steel prices continued to slide as the November scrap buy week was underway, according to the most recent S&P Global Commodity Insights US steel market participant survey.

The Great Lakes Clean Hydrogen Partnership made up of Linde, Energy Harbor, GE Aerospace, Cleveland-Cliffs steel manufacturing and the University of Toledo has moved forward with its US Department of Energy hydrogen hub application.