US exports of hot-briquetted iron (HBI) continued to shift toward China in July to meet increased demand for metallics from the world's leading steelmaker.

The decision to bring the capacities back is connected to the relining of a BF at ArcelorMittal Gent in Belgium, the company said.

“We are recovering in the automotive sector, but manufacturing products have low demand- particularly for white goods going abroad,” the source said.

“The rebound of the Brazilian economy is already happening,” Usiminas chief executive officer Sergio Leite said at the event to celebrate the BF restart.

Steel prices rose slightly from August 31 to September 6.

UK car sales drop in August after July rebound.

Global steel production also registered a fall during the month under review, the data showed.

The launch of FerroHaat underlines Tata Steel’s commitment to foster trust, transparency and ease of doing business in the scrap industry, an official statement said.