China's domestic steel margins have slumped since the start of September due to high iron ore prices and a "correction" in finished steel prices, S&P Global Platts data shows.

The EU must level the playing field on imports of unabated coal-based electricity from third countries.

On a month-on-month basis, output was down 3.7%, while sales rose 3.5%.

Only 18% of respondents expected their iron ore requirements to increase in Q4.

This is because upward momentum in property and infrastructure, which account for over 55% of China's total steel consumption, has slowed.

Market sources were not surprised by the announcement.

Strong demand from the property sector was lending some support to long steel, aluminum and copper markets in September, market sources said.

The plant can produce 300,000 mt/year of hot rolled coils and 160,000 mt/year of pickled and oiled coils.