Responsiblesteel partners with Europe and China on global low-emission steel standards
At the COP30 summit held in Belém, Brazil, following calls for greater consistency and clarity in carbon standards, Responsiblesteel announced partnerships with Europe’s Low Emission Steel Standard (LESS) and China’s Low Carbon Emission Steel Standard (C2F Steel). These two standards cover approximately 60 percent of global steel production.
Responsiblesteel’s agreements with Chinese and European steel standards expand a common approach to greenhouse gas measurement and classification, covering more than half of global steel production. The partnerships bring together producers, consumers, and innovators under harmonized definitions of low-emission steel, accelerating the sector’s journey toward deep decarbonization.
Steel accounts for around 7–9 percent of global greenhouse gas (GHG) emissions, making it one of the largest industrial contributors to climate change. The agreements strengthen efforts to facilitate trade and investment in decarbonized steel while ensuring consistency and reliability in sustainability standards worldwide.
Achieving meaningful progress in decarbonization requires collaboration across borders and standards. Today’s agreements send a strong message of global consensus to governments regarding the “scrap-variable” approach to low-emission steel classification. This approach acknowledges that recyclable steel will be limited in the coming period and is designed to promote decarbonization across all technologies.
Already recognized by the G7 and incorporated into international standards, this approach provides a practical, science-based solution supporting the global transition to low-emission steel without compromising integrity. It prevents unproductive competition for limited scrap supply, encourages decarbonization across all steel production routes, and supports technology-neutral solutions compliant with international trade rules, removing unnecessary barriers to trade.
Responsiblesteel’s greenhouse gas accounting methodology and classification system are part of the ‘International Production Standard,’ developed through a transparent, multi-stakeholder process with participation from over 180 individuals, including more than 70 business and civil society organizations and steel producers operating blast furnace (BF) and electric arc furnace (EAF) facilities, covering a broad ESG spectrum.
Responsiblesteel CEO Annie Heaton stated: “Responsiblesteel is creating a global framework that enables comparability to establish the foundation for a global market in low-emission steel. A large portion of global steel production capacity now has the potential to use equivalency mechanisms to define low- and near-zero-emission steels. These agreements pave the way for the first real examples of interoperability between standards, providing clarity for steel producers, buyers, investors, and policymakers in a groundbreaking development.”
Jiang Wei, president of the China Iron and Steel Association (CISA), emphasized: “Collaboration is essential to harmonize greenhouse gas emission standards and accelerate the decarbonization of the steel industry. This agreement is a groundbreaking step toward that goal. CISA’s decision to collaborate with Responsiblesteel reflects our mutual commitment to steel standard principles, proven results achieved by both organizations in this area, and our shared dedication to reliable, science-based solutions. We look forward to working closely with Responsiblesteel to advance the objectives of this agreement.”
LESS secretary general Carmen Ostwald stated: “LESS is proud to partner with Responsiblesteel in this groundbreaking initiative. Our shared commitment to reliable, science-based solutions will provide much-needed clarity in greenhouse gas emissions comparison and transparency in the decarbonization process of steel production. This agreement represents a critical step toward creating global markets for low-emission steel and accelerating the sector’s transition to net zero.”
Responsiblesteel board chair Gerry Tidd emphasized: “Two dominant steel-producing regions, China and Europe, play a vital role in decarbonizing the steel industry. Responsiblesteel is proud to act as a global, multi-stakeholder facilitator, using its trusted standard to help industries achieve genuine decarbonization.”
The agreements also set an example for the Steel Standard Principles (SSPs) launched at COP28. Responsiblesteel has taken a leading role in developing interoperability between standards in collaboration with more than 60 SSP signatories.
Leading industry figures and organizations also support the agreements
Philippe Aubron, global head of automotive at ArcelorMittal, stated: “ArcelorMittal strongly supports the collaboration between Responsiblesteel, CISA, and LESS to enhance interoperability between the new standards. It is essential to create a unified framework for international reference standards to accelerate steel decarbonization and provide transparency and reliability in global markets. We believe this initiative will build trust, drive innovation, and ensure the industry meets its climate commitments consistently and rigorously.”
Wang Qiangmin, chief representative for carbon neutrality at China Baowu Steel Group, stated:
“The signing of this cooperation agreement is a key milestone for the Chinese steel industry in actively applying green development principles and integrating deeply into global low-carbon emission management. We will use this opportunity to jointly promote international recognition of low-carbon steel standards, establish a green supply chain system, and contribute to the low-carbon transformation of the global steel industry with Chinese expertise and strength.”
Frederik Van de Velde, CEO of ArcelorMittal Belgium, stated: “This partnership is groundbreaking for our sector. By aligning our standards, we not only strengthen LESS and Responsiblesteel but also establish a global consensus on the definition of low-emission steel. ArcelorMittal is proud to support this initiative, which will accelerate our joint journey toward a sustainable steel sector.”
Gunnar Groebler, CEO of Salzgitter AG and chair of the LESS board, emphasized: “Aligned standards form the backbone for meaningful change in steel production. This tool ensures companies can adopt sustainable practices with confidence while providing customers with the transparency needed to make informed decisions. Mutual recognition between standards is key to building trust in the market.”
Riccardo Savigliano, head of energy systems and decarbonization at UNIDO, stated: “These agreements represent an important step toward globally harmonized standards for low- and near-zero-emission steel, which are critical for advancing decarbonization across the sector.”
Susanne Larsson, CFO and CSO of SKF, stated: “Unified, reliable, and interoperable standards are vital for making informed sourcing decisions in complex and globalized value chains like ours. These agreements will provide the market with much-needed clarity and consistency, strengthening the foundation for genuine climate action in the steel sector.”
John Haffner, deputy sustainability director at Hang Lung Properties, stated: “Carbon emissions from steel are a fundamental challenge in the real estate sector. We welcome and applaud this announcement as the first real estate company in China to join the Climate Group’s SteelZero initiative. Promoting decarbonization across all steel production routes and establishing reliable, interoperable standards will accelerate low-carbon steel production and provide clarity and momentum to demand-driven initiatives in China and beyond.”
Esther Finidori, sustainability director at Schneider Electric, stated: “Harmonizing global standards for low-emission steel is essential to scale reliable supply and sustainable trade. Decarbonizing supply chains requires standards that are harmonized, high-integrity, transparent, traceable, and measurable. We are committed to building sector coalitions, establishing long-term partnerships, and ensuring the standardization necessary to accelerate sustainable innovation.”
Mike Peirce, executive director of system change at Climate Group, stated: “This announcement is a strong example of what collaboration can achieve. By shaping standards within a common framework, these organizations are enabling greater alignment on how we measure and classify emissions in steel, a sector critical for global decarbonization.”
Sameen Khan, senior director of steel at Climate Group, stated: “SteelZero was established to accelerate demand for net-zero steel, and this announcement represents a vital step toward that goal. Steel buyers seeking low-carbon materials need clarity and comparability at a time when multiple decarbonization standards are emerging. Reducing barriers to measurement and progress is critical to helping companies make informed choices about where to source low-emission steel. This collaboration promises to provide that clarity.”
Responsiblesteel continues to be the single, multi-stakeholder standard for sustainability in steel worldwide, with 90 certified organizations.
LESS awards first European green steel certifications
The first certifications for low-carbon steel awarded under the Low Emissions Steel Standard (LESS) were issued to European steelmakers on 17 September, representing welcome progress for the EU’s clean steel transition.
LESS – now under the remit of Brussels-based non-profit LESS AISBL – launched in 2024 and was originally developed by German Steel Association WV Stahl, designed in concert with German steel stakeholders and government authorities.
European steel companies Georgsmarienhütte, thyssenkrupp Steel Europe, Salzgitter Flachstahl, Peiner Träger, Salzgitter Mannesmann Grobblech, and Ilsenburger Grobblech are now authorised to label certified products with the LESS label (see table below) giving buyers greater certainty that relevant low-carbon steel purchases represent actual emissions reductions.
Sweden’s greenfield low-carbon steelmaker Stegra – currently constructing its hydrogen-fed direct-reduced iron to electric-arc furnace steel plant – joined LESS earlier in September, preceded by ArcelorMittal’s individual EU entities and Tata Steel Netherlands during the summer. LESS now claims to represent approximately 45% of European steel production.
LESS is considered by many in the market to be the leading candidate for establishment as a regulatory standardisation or norm for the EU’s decarbonised steel productions, backed by independent verification criteria. The European Commission is to propose an official definition of ‘green steel’ before the year’s end as per the European Steel and Metals Action Plan, with voluntary low-carbon labels for steel products to be incorporated into circular economy and public procurement guidance or mandates.
European Commission President Ursula von der Leyen confirmed that “Made in Europe” labelling criteria would also be introduced into European public procurement policy at a high-level meeting of German industrial leaders 18 September, potentially further strengthening demand for the EU’s low-carbon products if both domestic and sustainability boundaries are introduced into public procurement’s 14% share of EU GDP.
A regulatory green steel definition is important as a communicative mechanism to lead markets, ensuring that purchases of green steel are recognised in decarbonisation metrics and commitments.
The LESS standard operates using a ‘sliding scale’ approach across six categories (optimally “near-zero”, then Low Emissions: A-E) which aims to define green steel in a practical sense, giving greater weight to carbon reductions the lesser the constituent share of steel scrap. This is due to the inherent insufficiency in European – and global – scrap supply, with scrap only available to cover 45% of projected demand by 2050 under best case scenarios.
By accounting for the scrap share in a steel products make-up, Europe’s blast furnace-dominant steel industry is incentivised to make real emissions reductions and support the development of alternate low-carbon iron inputs. The most visible route for green iron production as a steelmaking input is hydrogen-based direct-reduced iron (DRI), adopted into many of EU steelmakers’ decarbonisation roadmaps for use in scheduled electric-arc furnace (EAF) renovation projects.
LESS does not discriminate by production route – measuring emissions at the hot-rolling stage – and so is understandably favoured by blast furnace producers, who celebrate the potential to draw revenue from and make visible their decarbonisation initiatives during their progression rather than postponing the realisation of green premia to their conclusion.
Scrap recyclers, and some electric-arc furnace producers are less enthused however, seeing incorporation of sliding scale mechanisms as threatening to their potential to secure low-carbon market share and associated with talk of scrap export controls, preferring carbon accounting on absolute metrics, especially as they already find it difficult to manifest a premium for material that has had a comparatively reduced carbon footprint historically.
However, the award of a ‘Low Emission: A’ rating to Peiner Träger, when producing via electric-arc furnace with green electricity should demonstrate that electric-arc producers are still able to achieve the highest low-carbon ratings in participation with the LESS framework.
LESS certifications, September issue
| Steelmaker | Product Group / Specific Steel Product | Certification Body | Process Route | Classification System | LESS Classification | Scrap Share | Validity Period |
|---|---|---|---|---|---|---|---|
| Georgsmarienhütte GmbH | Entire production (batch-specific basis) | DNV Business Assurance Germany GmbH | EAF-HR | Quality Steel | Low Emission: B, C, D | Batch-specific, random sample verification | Until 11.09.2026 |
| Ilsenburger Grobblech GmbH | Heavy plate, electric steel slabs, grid electricity | TÜV NORD CERT GmbH | EAF-HR | Quality Steel | Low Emission: E | 100% | Until 11.09.2026 |
| Heavy plate, electric steel slabs, green electricity | TÜV NORD CERT GmbH | EAF-HR | Quality Steel | Low Emission: B | 100% | Until 11.09.2026 | |
| Heavy plate, slabs from the blast furnace route | TÜV NORD CERT GmbH | BF-BOF-HR | Quality Steel | Low Emission: E | 20% | Until 11.09.2026 | |
| Peiner Träger GmbH | Beam and section steel, grid electricity | TÜV NORD CERT GmbH | EAF-HR | Structural and Reinforcing Steel | Low Emission: E | 100% | Until 11.09.2026 |
| Beam and section steel, 50% green electricity / 50% grid electricity | TÜV NORD CERT GmbH | EAF-HR | Structural and Reinforcing Steel | Low Emission: C | 100% | Until 11.09.2026 | |
| Beam and section steel, green electricity | TÜV NORD CERT GmbH | EAF-HR | Structural and Reinforcing Steel | Low Emission: A | 100% | Until 11.09.2026 | |
| Salzgitter Flachstahl GmbH | Hot strip, unpickled, blast furnace route | TÜV NORD CERT GmbH | BF-BOF-HR | Structural and Reinforcing Steel | Low Emission: E | 20% | Until 11.09.2026 |
| Hot strip, unpickled, electric arc furnace route, grid electricity | TÜV NORD CERT GmbH | EAF-HR | Structural and Reinforcing Steel | Low Emission: E | 100% | Until 11.09.2026 | |
| Hot strip, unpickled, electric furnace route, green electricity | TÜV NORD CERT GmbH | EAF-HR | Structural and Reinforcing Steel | Low Emission: B | 100% | Until 11.09.2026 | |
| Salzgitter Mannesmann Grobblech GmbH | Heavy plate, electric steel slabs, grid electricity | TÜV NORD CERT GmbH | EAF-HR | Quality Steel | Low Emission: E | 100% | Until 11.09.2026 |
| Heavy plate, electric steel slabs, green electricity (SALCOS®) | TÜV NORD CERT GmbH | EAF-HR | Quality Steel | Low Emission: B | 100% | Until 11.09.2026 | |
| Heavy plate, slabs from the blast furnace route | TÜV NORD CERT GmbH | BF-BOF-HR | Quality Steel | Low Emission: E | 20% | Until 11.09.2026 | |
| thyssenkrupp Steel Europe AG | Entire production (process route specific) | TÜV NORD CERT GmbH | BF-BOF-HR | Quality Steel | Low Emission: D | 13% | Until 11.09.2026 |
Benjamin Steven Journalist, Steel
Salzgitter gains LESS classifications for some steel products
Salzgitter Group has gained certification for some of its steel products and production routes from an industry scheme, Kallanish learns.
The company says production routes for beams and profiles, flat steel and heavy plate have been validated by TÜV Nord and verified by The Low Emission Steel Standard (LESS) Association.
The system is a six-stage classification system, placing steel manufacturing processes transparently into six classes depending on the scrap content and CO2 emissions. The LESS scale ranges from “E” through “Low Emissions” – “D” to “A” – to the challenging “Near Zero” category for steel produced with virtually zero emissions.
The production routes of four Salzgitter Group companies have been classified: Salzgitter Flachstahl, Peiner Träger, Salzgitter Mannesmann Grobblech and Ilsenburger Grobblech.
CO2-reduced products from the Salzgitter Group are marketed under the SALCOS brand. The Salzgitter products that are already available are based on scrap-based crude steel from Peiner production.
An essential part of the product promise is that SALCOS products comply at least with classification C according to LESS. This has been confirmed externally with the classifications now available, with some gaining classifications A and B.
Marcus Lippe, head of technical customer service at Peiner Träger, says: “We are delighted to now be able to supply our customers with SALCOS Structural Steel products classified according to LESS and are particularly proud to even be offering products with an ‘A’ classification.”
“With the very good classifications our SALCOS products have received, the Salzgitter Group is underlining its pioneering role in industrial transformation. We have done our homework,” says Salzgitter chief executive Gunnar Groebler.
“With the certifications now available, the steel industry has put down the foundations for the introduction of green lead markets. These are intended to help bring CO2-reduced raw materials quickly and comprehensively to the various value chains. The political course for these lead markets must now be put in place with the same determination, in order to lead the transformation of the industry to success,” he adds.
From the first half of 2027, CO2-reduced crude steel for SALCOS products will also be produced at the Salzgitter site, using an electric arc furnace, with the direct reduction process to process ores using hydrogen-containing gases.
Carrie Bone UK
ArcelorMittal expands commitment to low-carbon steel with LESS membership across Europe
Global steel giant ArcelorMittal has announced that its subsidiaries in Belgium, France, Luxembourg, and Spain have joined the Low Emission Steel Standard (LESS), reinforcing the company’s leadership in producing low-carbon steel in Europe. ArcelorMittal Germany became a founding member of LESS in 2024.
What is LESS?
The Low Emission Steel Standard (LESS) is a voluntary initiative aimed at creating a credible and unified framework for labeling low-emission steel in the EU, and is already adopted by around 45 percent of European steelmakers. Although demand for low-carbon steel is increasing, most of the steel in Europe is still produced with conventional methods.
ArcelorMittal scales up XCarb® low-carbon steel
ArcelorMittal is currently Europe’s leading supplier of low-carbon steel through its XCarb® brand. In 2024, the company delivered 400,000 mt of XCarb® steel and expects that number to increase in 2025.
Policy support: EU’s Industrial Decarbonization Accelerator Act
The European Commission’s Steel and Metals Action Plan that was published in March this year has introduced mechanisms to support green steel markets. The upcoming Industrial Decarbonization Accelerator Act aims to stimulate demand for locally produced low carbon metals in public procurement and create lead markets to increase the use of low carbon steel in industries such as automotive and construction.
Challenges ahead: Insufficient policy and challenging market conditions
Despite its commitment, ArcelorMittal faces delays in its decarbonization projects due to insufficient policies and challenging market conditions. Current investments are focused on expanding electric arc furnace (EAF) capacity in Gijón and Sestao in Spain to increase XCarb® steel production.
BIR warns against sliding scale steel green standards
The Bureau of International Recycling (BIR) has released a new position paper calling for “a fair and science-based approach” to green steel policymaking; namely, how green steel is to be methodologically defined as the steel industry embarks on its industrial transition.
In the paper, the industry association warns against defining green steel against a “sliding scale” approach, which gives diminished accreditation for carbon emissions reductions the greater the constituent share of secondary (scrap) steel in the steel’s production.
This methodology, preferred by leading decarbonisation standards bodies in the steel sector such as ResponsibleSteel and the Low Emissions Steel Standard (LESS), is premised on a “realistic and practical” approach to decarbonisation, attempting to recognise inherent limitations in scrap availability to meet steel and green steel demand out as far as 2050 – an institutional carbon-neutrality deadline worldwide.
BIR supports methodologies on an absolute emissions approach such as the Global Steel Climate Council’s Steel Climate Standard (GSCC SCC), which BIR states “applies to all steel producers equally, focusing on actual emissions intensity across time rather than production method.” While this is not wholly inaccurate, the SCC does distinguish between flat and long steel products, setting different emissions targets for each at comparatively high thresholds as demonstrated in appendix one.
Supporters of definitions incorporating a sliding scale argue that these limitations in scrap availability risk merely redistributing embedded emissions across steelmaker product lines, and negates potential for higher-carbon blast furnace (BF) route producers to enact real emissions reductions on economic non-viabilities.
The European Commission is currently formulating low-emissions steel labels under the upcoming Industrial Decarbonisation Accelerator Act, as per the European Steel and Metals Action Plan (ESMAP), to be presented at the end of the year. McCloskey’s industry sources indicate that LESS is a forerunner in these consultations between policymakers and European steel market participants.
Under ESMAP, EU authorities recognise that the steel industrial transition is not workable without demand for green steel products such to fund decarbonisation-focused renovations among steel producers; aiming to create lead markets for green steel through official green steel definitions and their incorporation into public procurements. With public procurement representing around 15% of steel demand on the continent, steel producers – regardless of production route – will be looking to secure their piece of this pie as European climate targets approach their deadlines.
BIR does acknowledge scrap’s finite supply, but equates it to other raw materials, stating “much like iron ore, [scrap] is not scarce,” denying that this warrants special treatment for BF producers over electric-arc furnace (EAF) producers – who largely dominate scrap consumption as their primary steelmaking input.
The association adopts the same studies as the standards they criticise for their arguments, citing the possibility to reach 45% recycled steel input in global manufacturing by 2050 to counter what they term the “shortage narrative” – but BIR does not give much attention to the decarbonisation of the other 55%, or the fact that 2050 represents the carbon-neutrality deadline, not the starting line for a scrap-based transition.
BIR’s arguments are understandable in the sense that EAF producers should not be isolated from any green steel markets created and stimulated by emerging regulatory definitions – but the European Commission’s strategy focuses on incentivizing the decarbonisation of its existing industries, to which BIR has not provided an alternative solution.
Indeed, the scrap-independent decarbonisation routes available to integrated blast furnace producers – most prevalently, looking to direct-reduced iron (DRI) processes as an alternative to carbon-intensive blast furnace iron reduction – are also available to EAF producers, allowing them to reduce the scrap share in their productions on an already-competitive production route, as well as support the development of the DRI markets and the wider industrial transition via additional demand.
BIR states that the sliding scale model “contradicts the fundamental principle that green standards should reward actual emissions reductions” – yet if Europe’s existing integrated production is going to achieve actual emissions reductions, its operators will certainly require supportive demand to do so before 2050, as afforded by the incorporation of a sliding scale approach into regulatory definitions.
Appendix One: Green Steel, Standards and Thresholds
| Green Steel Standards (scrap share) | Green Steel Thresholds 2025 (t CO2e/t) |
| LESS (100%) “Near zero” | 0.12 |
| LESS (100%) A | 0.24 |
| LESS (100% ) B | 0.36 |
| LESS (20%) “Near-zero” | 0.40 |
| LESS (0%) “Near-zero” | 0.47 |
| LESS (100%) C | 0.48 |
Benjamin Steven Journalist, Steel
Green lead markets require standardisation
Green lead markets should have the same standardisation in every European country, according to Luciana Filizzola, GMH Gruppe’s director sustainability and communications.
“If every country in Europe has the same standardisation, it would be wonderful to promote the green lead market,” she said at the Kallanish Europe Steel Markets 2024 conference in Milan last week. GMH recommends prioritising low-CO2 products in tenders, both directly and indirectly, and a uniform classification system for green steel products, such as Germany’s Low Emission Steel Standard (LESS) labelling system.
Vulcan Green Steel vice president Arnaud Guerendel added: “There is no international standard and that is a pity!”
Guerendel noted international standardisation is currently facing a problem. He gave the example of one organisation, which is lobbying for and working under the definition of below 0.4 tonnes of CO2 emissions per tonne of steel production for Scope 3 emissions. But there is another range that has the general consensus of being considered “green” steel, which is at under 0.6t of CO2 emissions per tonne.
He opined one cannot make all grades of steel under the same carbon intensity. For example, producers can make a basic grade if they use scrap and green electricity, as it will have a very low product carbon footprint (PCF). However, very sophisticated grades cannot be made from scrap, and it will a completely different footprint.
Hydrogen-based direct reduced iron will therefore need to be used to achieve net-zero production of these highly sophisticated grades.
“There’s no international standard, between the EU, USA, and rest of the world,” Guerendel said. This is especially the case since China manufactures over 55% of global steel and India is soon expected to cross 200 million tonnes/year. He emphasised the need to set dialogue with those regions and standardise.
Suhita Poddar India
Germany introduces new green steel certification standard
The LESS certification was introduced on Monday April 22 at an industry event in the Hannover Messe and announced more widely in a WV Stahl press release.
It was said to be the first standard for the steel industry that allows for tracking and comparing emissions from two key steelmaking routes: the conventional blast furnace route in the transition to low-emitting hydrogen-based production processes, and the electric-arc furnace route. The system therefore enables comparisons of the decarbonization efforts of both steelmaking methods.
LESS was developed by WV Stahl and its member companies and is supported by the BMWK.
The core part of the LESS standard is the labelling system, which allows for classification of low-CO2 steel by carbon intensity, using a graduated scale.
According to the LESS standard, low-emission steel can be grouped into five categories – A,B,C,D,E – depending on carbon and scrap content.
Steelmaking companies that would like to get LESS certificates would have to report their scrap content and Product Carbon Footprint (PCF) in the finished steel product, in accordance with an Environmental Product Declaration (EPD).
This EPD would be provided by independent certification bodies TÜV Nord and DNV.
“The definition of green steel has long been the subject of intense debate worldwide,” WV Stahl president Bernhard Osburg said. “I am delighted that, by joining forces, we have succeeded in developing a widely agreed solution based on international standards which we are now putting into practise. This will provide steel clients with all the information they need to achieve their CO2 reduction targets with the help of low-emissions steel.”
He also emphasized that the LESS standard will help steel-using companies to obtain initial funding for transformation projects.
The introduction of LESS was supported by stainless steel producer Swiss Steel Group.
“LESS creates transparency through a uniform labelling system and a step-by-step classification of low-CO2 steel, and enables steel users to achieve their climate targets with the help of sustainably produced steel,” Swiss Steel Group said on April 24.
The LESS standard was created for international cooperation, so industry sources hoped that it would help to achieve a more unified approach to pricing low-carbon steel and that this would help to promote its uptake across supply chains.
Industry sources estimated that the volume of green steel traded in Europe in 2023 was no higher than 50,000 tonnes, with very few suppliers able to offer “physically produced green steel, with emissions proven by Environmental Product Declarations [EDPs],” according to one distributor.
Fastmarkets’ most recent weekly assessment of the green steel domestic, flat-rolled, differential to HRC index, exw Northern Europe, was €150-250 ($160-267) per tonne on April 18, unchanged since mid-December.
