American Iron and Steel Institute (AISI) reported today that the U.S. imported a total of 1,792,000 net tons (NT) of steel in May 2020.

The European Commission has published the result of its second investigation reviewing the safeguard measures put in place by the European Union on imports of steel products.

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.