Miner BHP and China Baowu Steel Group, the world's largest steel producer, have completed a first iron ore trade on MineHub.

China's steel sector purchasing managers' index (PMI) decreased by 1.6 points from May to 49.3 in June.

The profit growth of Chinese industrial firms was positive for the first time this year as economic order further normalized from the COVID-19 epidemic in May, the National Bureau of Statistics said on Sunday.

Spot prices for flat-rolled steel in the US fell again this week as mills struggled to book new spot orders.

Steelmakers are still expected to purchase another 50,000-100,000t of July-shipment deep-sea scrap, but almost all of their requirements have been met.

The European Automobile Manufacturers' Association (ACEA) is forecasting a 25pc drop in new passenger car sales in the EU this year as result of the Covid-19 pandemic.

Japanese auto manufacturer Mazda is planning to restart two-shift production at all of its four domestic assembly plants in July to gradually restore output from Covid-19 lows.

ArcelorMittal today announced a €440/t ex-works base price for hot-rolled coil (HRC) in the northwest European market, buyers told Argus.