The firm will invest 575bn rupees [$7.23bn] in the two projects that have received high-level clearance approval from the Odisha government.

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 daily Argus ICX 62pc iron ore index was at $108.75/dry metric tonne on 10 August, lower by 33pc from a year earlier.

The longer the European scrap supply issue persists, the longer Turkish scrap import prices could remain at elevated levels.

China's producer price index, which gauges factory-gate prices, increased 4.2 percent year-on-year in July, following a 6.1 percent rise from the previous month, the NBS said.

No Change YTD in 2022 from Same Period in 2021

In the week ending on August 13, 2022, US domestic raw steel production was 1,742,000 net tons while the capability utilization rate was 79.0 percent.