Indian private-sector producer Tata Steel's sales rose by 7.2pc on the year in July-September, despite monsoon-led seasonal weakness.

Machine shop turnings price indications are expected to emerge later, but a sideways trend would leave prices at $130/gt.

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

Steelmaker Nucor is keeping its plate prices flat, just weeks after announcing lower pricing.

US steelmakers' attempts to correct the oversupply may be swamped by new capacity coming online.

The company's saleable iron ore production stood at 1.08mn t over the three-month period, while sales edged up by 2pc against the previous year, to 1.34mn t.

The company's saleable iron ore production stood at 1.08mn t over the three-month period, while sales edged up by 2pc against the previous year, to 1.34mn t.

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