The federal government also has a renewable energy target of 82pc by 2030, up from around a third currently.

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

JISPL's production plunged by 77pc on the year to 30,000t during July to September.

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

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

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

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

Total US electric power sector electricity output for October-March will edge down by less than one-tenth of one percent to around 1,929bn kWh, EIA projected.