Over a three-year period, the company sold more than 11.9 million tons of high-quality steel products, with approximately 4.8 million tons exported worldwide.

Shougang has exported its electrical steel to more than 24 countries and regions.

The exports increased by 49% year on year to 1.28 million tonnes in 2022, but dropped slightly by 4% to 1.23 million tonnes in 2023.

“We would also surcharge steel mills that do not appear to be practicing dumping,” one source said.

Members of the European Parliament (MEPs) have adopted Net-Zero Industry Act, which plans to allocate funds towards the production of net-zero technologies.

Korea's leading steel companies are going through a difficult period in the first quarter of this year. Leading names in the industry such as POSCO, Hyundai Steel and Dongkuk Steel experienced significant decreases in their performance.

China's coal-rich Shanxi Province reports rising coalbed methane output.

China's raw coal output fell 4.1 percent year on year to 1.11 billion tonnes in the first quarter of this year, official data showed.