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

The US shipped 139,162t to China in August, 88.8pc lower than a year earlier and 51.8pc lower than July.

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

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.

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

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.

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