US plate maker Nucor kept its plate prices for December flat.

Its July-September production fell by 77pc from a year earlier to 30,000t.

HRC lead times in the Midwest increased to 4 weeks from 3-4 weeks.

OEUK estimates only nine exploration and appraisal wells be drilled this year, down from around 60 in 2010.

Orion Minerals partners up at Okiep

Freight volume has seen stable monthly growth, with October hitting a high of 1.35 million tons, it said. Trade along the railway covers countries such as Laos, Thailand, Malaysia, Vietnam, Cambodia and Singapore.

Looking ahead, we believe economic growth will be a crucial priority for China, as the country has emphasized the importance of economic development, focusing on high-quality, balanced and inclusive growth.

Since its first iron ore shipment to China in 1973, Rio Tinto has supplied China with more than 3.5 billion tons of high-quality iron ore.