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Indonesia's energy ministry (ESDM) has set the country's coal production target at 694mn t for 2023, around 5pc higher than the 2022 target of 663mn t, which has been exceeded.

Steelmaker Nucor rolled its first plate at its new mill in Brandenburg, Kentucky.

Overseas demand for Japanese ferrous scrap is likely to recover in 2023, while stronger domestic consumption and slower scrap generation in the country limit availability for exports.

Brazil increased its power generation capacity by 8.2GW in 2022, with fossil-fueled thermal plants accounting for 16pc of total growth.

Japan produces around 1mn permanent magnet synchronous motors for vehicles each year, according to trade ministry data.

India's largest iron ore producer NMDC has raised its iron ore prices for January, the second straight month of increase.

A year ago the spread was $1,058/st as HRC prices were plunging from record-high levels.

BHP and Oz Minerals agree on takeover deal