The period saw an 11% fall in Russian steel consumption to little over 19 million mt, according to Evraz.

Japan's steel exports were 2.4895 million tons in July, down 18.7% from a year earlier, up 2.75% from a month earlier, according to data released recently by the Japan Iron and Steel Federation.

Mr Acharya also explained that iron ore prices are at six-year high and international steel prices in August, too, have increased.

For the period from April to June, Baosteel earned 2.47 billion yuan, a jump of 60.6% from the first quarter.

Steel & Tube Holdings Limited has announced a full year result for the 12 months ending 30 June 2020.

Of the 4.64 million tonnes of total steel exports, Vietnam and China bought 1.4 million tonnes and 1.3 million tonnes of steel respectively.

NLMK Lipetsk (Novolipetsk Steel,NLMK) has embarked on a project to construct a new continuous hot dip galvanizing line HDGL-5 with a capacity of 450,000 tonnes of steel per year.

The U.S. trade representative's office said that the U.S. is taking additional measures to limit the import of steel from Mexico and Brazil in the face of domestic market difficulties caused by the COVID-19 on Monday.