Many steel enterprises saw profits drop by up to 90% in Q2 of this year, amid plunging steel prices.

The bill includes incentives for companies that include union workers, but the overwhelming focus is on boosting US production and employment, he said.

The mining giant said it did not agree with the decision and would appeal within the next 10 days.

The new numbers were the result of a previous public consultation, which reviewed the methodology and other factors related to calculating nameplate generation capacity.

The rise in trade deficit has been attributed to a surge in imports driven by elevated global commodity prices.

Vietnam's ferrous scrap imports in July fell to their second-lowest monthly level this year, as demand was dented by subdued production and weaker trading activity.

The European scrap supply system is highly dependent on inland river transportation.

The northwest European hot-rolled futures market continues to move into a steeper contango, as end users look to lock in forward prices which are low compared with their physical contract offers.