Liberty Steel is closing one of the three ovens at its Ostrava site in Czechia and there is a growing expectation that the company may idle its last two operational blast furnaces in Europe in the coming months.

Normalized plate pricing also fell by $40/st to $1,730/st.

The company has started the production of final product, hot-rolled coils, from the Nagarnar plant in Chhattisgarh.

Turkey-based Kaptan Demir Çelik (Kaptan lron & Steel), part of Kaptan Group, has started wire rod production at its new mill supplied by UK-based plantmaker Primetals Technologies.

In 2024, China will see the value-added of the iron and steel industry expand about 4 percent, according to the document.

AISI: US Raw Steel Production in the week ending on August 26, 2023.

Finished Import Market Share YTD at 22%.

For his part, Demchenko confirmed the company's keenness to invest in the Egyptian market.