The August Japan Kanto tender was settled on 10 August at an average of ¥42,061/t ($311.56/t) fas for H2, equivalent to ¥43,061/t fob.

The daily Argus ICX 62pc iron ore index was at $108.75/dry metric tonne on 10 August, lower by 33pc from a year earlier.

China's producer price index, which gauges factory-gate prices, increased 4.2 percent year-on-year in July, following a 6.1 percent rise from the previous month, the NBS said.

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

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

In the week ending on August 13, 2022, US domestic raw steel production was 1,742,000 net tons while the capability utilization rate was 79.0 percent.

No Change YTD in 2022 from Same Period in 2021

Mineral Resources (MinRes)’ transformational Onslow Iron project (formerly known as the Ashburton project) in Western Australia has commenced early works to support first ore on ship around December 2023.