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

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

The northwest European hot-rolled futures market continues to move into a steeper contango, as end users look to lock in forward prices which are low compared with their physical contract offers.

BlueScope has set a goal of net-zero GHG emissions by 2050.

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

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.

The rise in trade deficit has been attributed to a surge in imports driven by elevated global commodity prices.