The bill includes incentives for companies that include union workers, but the overwhelming focus is on boosting US production and employment, he said.

Rival miners have cautioned over a weaker outlook and Rio Tinto Group last month reported a decline in first-half profits and halved its dividend.

Many steel enterprises saw profits drop by up to 90% in Q2 of this year, amid plunging steel prices.

The mining giant said it did not agree with the decision and would appeal within the next 10 days.

The August Japan Kanto tender was settled on 10 August at an average of ¥42,061/t ($311.56/t) fas for H2, equivalent to ¥43,061/t fob.

The LCRC said that since the railway's opening, it has been actively enhancing the transportation organization, optimizing the freight service, and effectively ensuring efficient and smooth transportation.

The new numbers were the result of a previous public consultation, which reviewed the methodology and other factors related to calculating nameplate generation capacity.

The European scrap supply system is highly dependent on inland river transportation.