Indian private-sector producer JSW Steel's crude steel output rose by 10pc from a year earlier to 1.73mn t.

US steelmaker Evraz North America has increased its prices for flat steel products.

The Argus US plate ex-works assessment has been relatively flat at around $1,480/st since early December.

China is taking fresh measures to deter hoarding of iron-ore in a bid to cool a surge in prices of the key steel-making material.

Mexico’s construction sector contracted 1.0% in January from December, statistics office Inegi said.

Hunan developing reputation worldwide as a center of heavy industry expertise

The decrease expanded by 0.6 percentage points from that registered in January. On a monthly basis, China's PPI remained flat in February, according to the bureau.

"China's statement to actively seek CPTPP membership illustrates its attitude and determination to expand its opening-up," Gu said.