"Improving product quality should be a major priority, to use high standards to push forward high quality development of the industry."

A source had already confirmed that a deal was in the works earlier on Monday, amid press reports that Jingye would pay 70 million.

CISA data showed their member companies have seen a 32 percent drop in profits.

An increase on the tariff on Turkish steel to 50% was announced by Trump via Twitter, but never officially implemented.

The blast furnace has a capacity of 1.3 million crude steel/year and the stoppage will at least be for four-six weeks.

Ryzhenkov said he is in discussions with the Ukrainian government on a new law.

Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil were unchanged over the past week.

Billet and bloom exports totaled 2.96 million tonnes over the six months, an 88% rise year-on-year.