Weak Polish thermal coal imports early in 2021 could tighten availability of fine grades, which until recently were oversupplied in the country.

The Argus weekly domestic US HRC index was flat at $1,200/st ex-works Midwest last week. Lead times fell to 7-8 weeks from 8-9 weeks.

China's transport ministry is expecting a big fall in travel during the lunar new year period.

China imported 3.57mn t of coking coal last month, down by 4pc from 3.72mn t in November.

The country produced 30.14mn t of crude stainless steel in 2020, up by 2.51pc from 2019.

China also added a net 1.2GW of nuclear capacity to 49.9GW, 12.1GW of hydro to 370.2GW and 55.6GW of thermal capacity to 1,245GW.

The first shipment of iron ore from Sierra Leone's New Tonkolili Iron Ore Project set sail for China from the country's Pepel Port on Friday.

According to preliminary data released by the U.S. Census Bureau, U.S. steel imports fell 21.2%t to 22.019 million tons in 2020 from a year earlier.