United Arab Emirates producer Conares Steel has increased its rebar price to 1,774 dirhams ($483) per tonne ex-works, from the previous month’s level of 1,690 dirhams per tonne ex-works.

About 130 employees are being recalled for the startup, Panzeri said.

More than 50,000 5G base stations are expected to be built in Hubei province this year, covering all urban areas of Wuhan, the capital city of the province, Changjiang Times reported.

China steel futures close lower.

China steel futures open lower.

From the perspective of demand, in June, the Southern region ushered in the rainy season, with rainstorms and floods in many places.

Japan's Tokyo Steel announced its sixth increase for ferrous scrap prices this month, effective on 13 June, as its previous rises failed to boost scrap flow to some mills.

The UK economy suffered its biggest monthly contraction on record in April, with the country's GDP shrinking by a fifth during the first full month of its Covid-19 lockdown.