Spot prices for flat-rolled steel in the US fell again this week as mills struggled to book new spot orders.

Lower-grade iron ore contract prices will narrow or erase discounts in July, as spot differentials have gained further support from supply disruptions, product upgrades and margin pressures.

Japan's biggest carmaker Toyota Motor will maintain domestic production cuts next month but expects its July car output to recover from June's low.

One rail line was re-opened at 03:00 local time this morning but there is no firm restart date planned for the second line, a spokesman for TFR said.

Steel is one of the sectors forecast to benefit the most from the agreement.

In the week ending on June 20, 2020, domestic raw steel production was 1,224,000 net tons while the capability utilization rate was 54.6 percent.

Non-prime steel or second-grade steel is not tested as per the relevant standards specification.

India’s Directorate General of Trade Remedies has recommended imposition of anti-dumping duties on tin milled flat rolled steel products.