World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 151.7 million tonnes (Mt) in September 2022, a 3.7% increase compared to September 2021.

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

Australian resources firm BHP has kept its iron ore production guidance for the 2022-23 fiscal year to 30 June unchanged with sustained output.

The federal government also has a renewable energy target of 82pc by 2030, up from around a third currently.

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

The US shipped 139,162t to China in August, 88.8pc lower than a year earlier and 51.8pc lower than July.

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

The Argus weekly domestic US ex-works plate assessment was flat at $1,620/st.