HRC lead times in the Midwest increased to 4 weeks from 3-4 weeks.

Orion Minerals partners up at Okiep

Looking ahead, we believe economic growth will be a crucial priority for China, as the country has emphasized the importance of economic development, focusing on high-quality, balanced and inclusive growth.

Freight volume has seen stable monthly growth, with October hitting a high of 1.35 million tons, it said. Trade along the railway covers countries such as Laos, Thailand, Malaysia, Vietnam, Cambodia and Singapore.

The problem is that there are more than 13m tons of HRC capacity coming online or planned to come online in the next three years.

The sites receiving ResponsibleSteel certification were POSCO’s Pohang and Gwangyang Steelworks in South Korea and Tata Steel’s Jamshedpur site in India.

The two contracts have gained momentum on high volatility in the physical market that attracted greater futures interest.

Most of the capital goods in China posted lower prices in late October compared with mid-October, official data showed Friday.