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Limited overseas scrap demand will continue to weigh on export prices, trade sources said.

High water storage levels at hydropower reservoirs have led Brazilian grid operator ONS and chamber of electric energy commercialization CCEE to launch a plan to export power to Argentina and Uruguay.

Total US electric power sector electricity output for October-March will edge down by less than one-tenth of one percent to around 1,929bn kWh, EIA projected.

“Parties are still engaging,” Transnet spokeswoman Ayanda Shezi said in a reply to questions.

Europe is also bringing legislation that offers incentives for the use of green hydrogen, he said.

Vale is set to release earnings Oct. 27 after the close of regular trading.

“Parties are still engaging,” Transnet spokeswoman Ayanda Shezi said in a reply to questions.

Increased light vehicle production through the second half of 2022 over the first half of the year will increase availability for prime steel scrap.