Chinese manufacturing activity strengthened in June but the leading indices provided further evidence that the country's steel market recovery will be largely domestically-driven.

Vietnamese industrial production was greatly affected by COVID-19 in the first half of 2020 but has gradually bounced back since May, according to the General Statistics Office (GSO).

Iron ore prices are expected to soften from current high levels in the July-September quarter.

The supply and demand dynamics in China's steel market look set to remain in balance over the second half of 2020 as its steel capacity expansion has slowed.

Analysts said the country should ramp up its efforts to revitalize domestic demand to sustain the improvement in industrial earnings amid mounting uncertainties.

Analysts urge more steps to revitalize domestic demand to sustain growth amid uncertainties

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.

China imported 4.76mn t of coking coal in May, down by 23pc from 6.21mn t in April and down by 19pc from a year earlier.