Mining sector would be hardest hit by Transnet strike, says economist

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

Integrated steelmaker US Steel is indefinitely idling a blast furnace at its Mon Valley Works in Pennsylvania.

The company's saleable iron ore production stood at 1.08mn t over the three-month period, while sales edged up by 2pc against the previous year, to 1.34mn t.

The company's saleable iron ore production stood at 1.08mn t over the three-month period, while sales edged up by 2pc against the previous year, to 1.34mn t.

Steelmaker Nucor is keeping its plate prices flat, just weeks after announcing lower pricing.

The daily Argus ICX 62pc iron ore index was at $96.15/dry metric tonne today, down 19pc from a year earlier.

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