Steel scrap HMS 1&2 (80:20 mix) US origin, cfr Turkey, $/tonne

Major Asian steelmakers have been striving to develop decarbonization technologies for the current blast furnace-basic oxygen furnace (BF-BOF) steelmaking, given the global green steel production drive and large number of existing blast furnaces built in recent years.

The growth is largely expected to be driven by stricter environmental regulations, increasing pressure from consumers and investors for sustainable products, and the region's commitment to achieving carbon neutrality, according to sources.

Over a decade since its first attempt, Glencore appears to have taken another tilt at Rio Tinto.