Finished steel consumption in April-May rose by 10.1pc on the year to 18.5mn t, while production climbed by 7.7pc against the previous year to 19.11mn t.

Brazil's total installed generating capacity rose to 183,129.3MW, including 2,162MW installed this year through May.

Brazil's high power costs and bundled rules for pricing and surcharges are making small and medium consumers turn to a new type of distributed generation from cooperatives.

GDP returns to pre-pandemic levels, up 1.9% q/q in the first quarter

Below is a ranking of the 50 top steel-producing companies. This list is updated in early June every year. An extended listing of top steel producers 2020/2021 is available from the PDF under the table.

Brazil produced 2.9 Mt, down 4.0%. Iran is estimated to have produced 2.2 Mt, down 20.7%.

Offers were heard in a wide range between $1,150-1,300/st, with most in the $1,200/st range.

Japan's ferrous scrap exports continued to recover in April on sustained demand from South Korea.