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

Japanese automaker Honda expects to boost its North American production in the fourth quarter as access to auto parts improves.

Tata Steel approved a merger with its seven metal subsidiaries last month to increase operational efficiency and reduce costs.

Integrated steelmaker US Steel is indefinitely idling a blast furnace at its Mon Valley Works in Pennsylvania.

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

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

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

Peru’s mining exports fell in the first eight months, the first accumulated year-on-year drop in 2022.