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Multiple producers have faced that tough choice in recent months.

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

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

Spot prices of ore bound for China, maker of about half the world’s steel, have fallen roughly 40% from this year’s peak above $160 in March.

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

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

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

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