Cyclone Metals Ltd (ASX:CLE) has passed a key milestone with pilot plant test work for the Iron Bear Project in Canada delivering iron ore concentrates with high purity and yield, essential for green steel production.

The Australian Steel Institute (ASI) has called for a ban on unprocessed steel scrap exports, stating that steel scrap is a valuable resource which is becoming increasingly scarce.

Construction on a zero-carbon steel plate factory began Thursday in the port city of Zhanjiang, a production base in Guangdong's Leizhou Peninsula.

The three-phase project will use natural gas as a reducing agent instead of coke and coal, Fastmarkets heard.

The figures, released every 10 days, are based on the survey of nearly 2,000 wholesalers and distributors in 31 provincial-level regions across the country.

But demand for long steel products is set to remain subdued, given the poor demand outlook from the construction sector, Zuo added.

Established with a donation of $5.81 million from Vale, the joint laboratory will be open to all the researchers from the mining and steel industry from today, it said.

The CBAM puts a price on the carbon emitted during the production of carbon intensive goods entering the EU. It started trial operation in October last year, and will be implemented from 2026 onward.