The Finnish company reached a deal with France’s REEL International.

Shares of the country’s oldest steel mill have climbed more than 70% since Oct. 1, clocking its best performance in more than 11 years.

It’s been a tumultuous year for industrial metal markets, both the worst of times and the best of times.

The London Metal Exchange will roll-out by mid-2021 a digital register to store carbon related details of aluminum.

Industrial metals are well on their way to being among the top performers of 2020.

Flourishing demand in China and the United States, higher freight costs and tight scrap supplies are expected to fuel further rises in prices of the metal.

“The path to economic recovery will be long and slow,” says Intl FCStone metals analyst Natalie Scott-Gray.

U.S. Steel is exercising a call option and will use cash on hand to buy the stake for about $774 million.