The recent production cuts announced by Australian coking coal producers point to even greater cost pressures that their US counterparts are facing.

Spot activity continues to be sporadic in the Atlantic coking coal market, as participants hope that early signs of a stronger third quarter in terms of volumes will be borne out.

China has lowered the target for coal's share in its primary energy mix as it continues to encourage the use of cleaner energy to combat air pollution.

Spot prices for flat-rolled steel in the US fell again this week as mills struggled to book new spot orders.

ArcelorMittal today announced a €440/t ex-works base price for hot-rolled coil (HRC) in the northwest European market, buyers told Argus.

Steelmakers are still expected to purchase another 50,000-100,000t of July-shipment deep-sea scrap, but almost all of their requirements have been met.

The European Automobile Manufacturers' Association (ACEA) is forecasting a 25pc drop in new passenger car sales in the EU this year as result of the Covid-19 pandemic.

Japanese auto manufacturer Mazda is planning to restart two-shift production at all of its four domestic assembly plants in July to gradually restore output from Covid-19 lows.