The federal government also has a renewable energy target of 82pc by 2030, up from around a third currently.

India's largest iron ore producer state-controlled NMDC rolled over its prices for a second straight month in October.

The Argus weekly domestic US ex-works plate assessment was flat at $1,620/st.

Indian private-sector producer JSW Steel has signed an initial deal with US-based finance technology firm Smartex to explore low-emissions steel production.

The Australian and Singaporean governments have signed a green trade agreement to support trade, investment and climate change objectives.

The US shipped 139,162t to China in August, 88.8pc lower than a year earlier and 51.8pc lower than July.

UK-Australian mining firm Rio Tinto expects to come in at the bottom of its 320mn-335mn t guidance for 2022.

Volumes on the CME Group's north European hot-rolled coil (HRC) contract have already doubled compared to 2021.