Volumes on the CME Group's north European hot-rolled coil (HRC) contract have already doubled compared to 2021.

The Argus 62pc lump premium stood at 20￠/dry metric tonne unit (dmtu) on 30 September, the highest since June.

The firm maintained its 2022-23 financial year production guidance at 58mn-64mn t.

Market participants report significant advancements after Brazilian electricity regulator Aneel approved temporary rules for a new demand response program, but say there is still room for improvement.

Steel shipments from US mills fell in August as the market continued to deal with declining prices.

US steelmaker Nucor is expecting to roll its first plate at its new Brandenburg, Kentucky, mill by the end of the year.

Japan and the US remained Vietnam's top two suppliers and accounted for 58pc of total imports in September.

Rio Tinto, BHP, Fortescue and Roy Hill loaded vessels with a combined 17.12mn deadweight tonnes (dwt) of capacity.