The steel does not have to be painted, which saves maintenance costs.

China's steel industry should adhere to the dual-circulation development pattern and accelerate the establishment of a stable and efficient supply system for raw materials, industry experts said.

"Not a good sign, but at least the worst is over and we're heading for a recovery."

Thyssenkrupp received a non-binding offer from Liberty Steel for its steel unit in October.

The No.4 furnace at Gary has a rated annual capacity of 1.36 million st/year, according to data from the Association for Iron and Steel Technology.

The steelmaker has informed some customers that some orders for January production would have to be delayed until February.

US hot-rolled coil (HRC) prices continued their march upwards.

The accelerated speed of change is not likely to stop.