The company plans to produce up to 160000 tons of new products from the second half of 2022.

Brazilian mining firm Vale said it expects to achieve iron ore production capacity of 350mn t/yr this year, up by 8.7pc from a year earlier.

The increase took overall shipments for the last year to 407mn, slightly higher than a government-set target for the year of 400mn t.

In one of the most challenging engineering projects ever undertaken, Chile is building a unique steel-built suspension bridge near the site of the strongest earthquake ever recorded.

"[Rail operator] Transnet Freight Rail (TFR) is cancelling many trains," said one supplier.

"[Rail operator] Transnet Freight Rail (TFR) is cancelling many trains," said one supplier.

Japanese steel mill Nippon Steel expects its crude steel output in this year's January-March quarter to recover above 10mn t for the first time since January-March 2020.

In 2020, the total output of vanadium pentoxide was 19.5 mlb, a decrease of 3% from the same period last year. (Total production in 2019 is 2020 mlb)