The US shipped 139,162t to China in August, 88.8pc lower than a year earlier and 51.8pc lower than July.

JISPL's production plunged by 77pc on the year to 30,000t during July to September.

Volumes on the CME Group's north European hot-rolled coil (HRC) contract have already doubled compared to 2021.

India's largest iron ore producer state-controlled NMDC rolled over its prices for a second straight month in October.

The Argus 62pc lump premium stood at 20￠/dry metric tonne unit (dmtu) on 30 September, the highest since June.

BHP is the only one of the big four Western Australian iron ore mining firms to operate major coking coal exporting facilities.

US steelmaker Nucor is expecting to roll its first plate at its new Brandenburg, Kentucky, mill by the end of the year.

Steel shipments from US mills fell in August as the market continued to deal with declining prices.