Global Iron Ore Shipments Fell 12.1% Week-on-Week to 29.13 Million mt during December 31-January 6

Norway's Enova will grant up to 25.54 million USD to Nordic Circles and Alsaker Stål to reuse steel from decommissioned ships in new buildings. The funds back a circular steel value chain in Norway covering recovery, cleaning, quality assurance and recertification of ship steel. Alsaker Stål, part of Tertnes Holding, will invest up to 54.44 million USD. AI planning tools, automation and new cutting and cleaning technologies aim to make reused ship steel competitive with new steel. Steel production accounts for up to 25% of a building's emissions, while reuse removes almost all emissions of new steel. About 10 million tonnes of European ship steel is scrapped yearly, mostly in Asia; reuse could cut European steelmaking emissions by up to 17 million tonnes of CO2 a year.

Japan’s Sojitz Corporation has signed an agreement to transfer all its interests in the Gregory Crinum coking coal mine in Queensland, Australia. The transaction remains subject to conditions, including approval from relevant authorities. The divestment forms part of Sojitz’s strategy to exit most of its Australian metallurgical coal businesses. The company has also committed to reducing its coking coal interests to zero by 2050 as part of its long-term decarbonisation strategy.