Private construction was at a seasonally adjusted annual rate of $1.43tn, 0.6pc below the July estimate of $1.44tn.

The plate delivered assessment rose by $8.25/st to $1,676.50/st.

Peru’s mining exports fell in the first eight months, the first accumulated year-on-year drop in 2022.

The 2211 ferrosilicon contract price on ZCE closed at 8842 yuan per ton on October 10.

It was a 9.2% decrease from the 2,485,000 permit tons recorded in August and a 10.1% decrease from the August final imports total of 2,510,000.

In the week ending on October 1, 2022, domestic raw steel production was 1,700,000 net tons while the capability utilization rate was 77.1 percent.

This volume is only below what was recorded in September 2020, when Brazil exported 37.47 million tonnes for the month.

Amid volatility in most commodity markets, iron ore has been relatively stable over the past two months.