This year, finished steel production is expected to hit 30 million tons, reflecting a 7 percent rise from 2023, said the association.

China's steel industry, which is under pressure to decarbonize as it is the biggest steel producer in the world

India is set to witness a notable rise in steel production, projected to grow by almost 6% year-on-year

After the end of its operational life, P-32 was acquired last year by Gerdau from Petrobras, for dismantling and utilization of the ferrous scrap as raw material for its steel production.

A geospatial engineering major, the 30-year-old joined China Wu Yi in 2017 to work at the precast building materials factory and has risen through the ranks to become an assistant manager at the firm.

Specifically, a total of 1,149 listed companies disclosed such reports in 2023, up 3.6 percentage points from a year earlier.

The introduction of remote mining technology has now transformed excavating-machine operators from "black-collar" to "white-collar" workers, allowing them to bid farewell to dusty work environments.

Weckesser made the comments during his recent visit to Shanghai to attend the four-day 2024 World AI Conference.