OEUK estimates only nine exploration and appraisal wells be drilled this year, down from around 60 in 2010.

Its July-September production fell by 77pc from a year earlier to 30,000t.

Indonesian state-owned utility PLN last week targeted a cut to GHG emissions this year of 32mn t.

HRC lead times in the Midwest increased to 4 weeks from 3-4 weeks.

US plate maker Nucor kept its plate prices for December flat.

Orion Minerals partners up at Okiep

Freight volume has seen stable monthly growth, with October hitting a high of 1.35 million tons, it said. Trade along the railway covers countries such as Laos, Thailand, Malaysia, Vietnam, Cambodia and Singapore.

Looking ahead, we believe economic growth will be a crucial priority for China, as the country has emphasized the importance of economic development, focusing on high-quality, balanced and inclusive growth.