Japanese automaker Honda expects to boost its North American production in the fourth quarter as access to auto parts improves.

The plate delivered assessment rose by $8.25/st to $1,676.50/st.

Private construction was at a seasonally adjusted annual rate of $1.43tn, 0.6pc below the July estimate of $1.44tn.

Tata Steel approved a merger with its seven metal subsidiaries last month to increase operational efficiency and reduce costs.

Machine shop turnings price indications are expected to emerge later, but a sideways trend would leave prices at $130/gt.

Indian private-sector producer Tata Steel's sales rose by 7.2pc on the year in July-September, despite monsoon-led seasonal weakness.

"Our plant uses a lot of water and chemicals but unlike other jurisdictions will not produce a single litre of liquid waste," SRC president Mike Crabtree said.

US steelmakers' attempts to correct the oversupply may be swamped by new capacity coming online.