They will also cooperate in bonded-area operations and trade and jointly build an iron ore blending and distribution center in northeast Asia, according to the MOU.

Rio Tinto is seeking a new head of iron ore after it announced on Sept. 11 that Chris Salisbury will stand down at the end of this year.

The plant can produce 300,000 mt/year of hot rolled coils and 160,000 mt/year of pickled and oiled coils.

Market sources were not surprised by the announcement.

The settlements for BF-grade pellet premiums are nearly flat with the previous quarter and lower by around $3/dmt for DR-grade pellets.

The listed arm of steelmaker HBIS Group Co Ltd announced that the group’s phase one steel plant project in the coastal city of Legang in Hebei province of China has become operational.

JSW Steel announced crude steel production of 1.317 million tonnes for August 2020.

The launch of FerroHaat underlines Tata Steel’s commitment to foster trust, transparency and ease of doing business in the scrap industry, an official statement said.