The bill includes incentives for companies that include union workers, but the overwhelming focus is on boosting US production and employment, he said.

China's producer price index, which gauges factory-gate prices, increased 4.2 percent year-on-year in July, following a 6.1 percent rise from the previous month, the NBS said.

The rise in trade deficit has been attributed to a surge in imports driven by elevated global commodity prices.

BlueScope has set a goal of net-zero GHG emissions by 2050.

Vietnam's ferrous scrap imports in July fell to their second-lowest monthly level this year, as demand was dented by subdued production and weaker trading activity.

The August Japan Kanto tender was settled on 10 August at an average of ¥42,061/t ($311.56/t) fas for H2, equivalent to ¥43,061/t fob.

The northwest European hot-rolled futures market continues to move into a steeper contango, as end users look to lock in forward prices which are low compared with their physical contract offers.

The European scrap supply system is highly dependent on inland river transportation.