Indian private-sector producer JSW Steel has signed an initial deal with US-based finance technology firm Smartex to explore low-emissions steel production.

Volumes on the CME Group's north European hot-rolled coil (HRC) contract have already doubled compared to 2021.

Japan and the US remained Vietnam's top two suppliers and accounted for 58pc of total imports in September.

Steel shipments from US mills fell in August as the market continued to deal with declining prices.

US steelmaker Nucor is expecting to roll its first plate at its new Brandenburg, Kentucky, mill by the end of the year.

HRC lead times in the Midwest fell to 3-4 weeks from 4 weeks.

Limited overseas scrap demand will continue to weigh on export prices, trade sources said.

Increased light vehicle production through the second half of 2022 over the first half of the year will increase availability for prime steel scrap.