JISPL's production plunged by 77pc on the year to 30,000t during July to September.

Volumes on the CME Group's north European hot-rolled coil (HRC) contract have already doubled compared to 2021.

India's largest iron ore producer state-controlled NMDC rolled over its prices for a second straight month in October.

The Argus 62pc lump premium stood at 20￠/dry metric tonne unit (dmtu) on 30 September, the highest since June.

Steel shipments from US mills fell in August as the market continued to deal with declining prices.

US steelmaker Nucor is expecting to roll its first plate at its new Brandenburg, Kentucky, mill by the end of the year.

Japan and the US remained Vietnam's top two suppliers and accounted for 58pc of total imports in September.

However, the tender price was lower in the later stage, and the volume was reduced.