The Argus weekly domestic US HRC Midwest and southern assessments both increased by $50/short ton (st) to $1,150/st.

US steelmaker Evraz North America has increased its prices for flat steel products.

China is taking fresh measures to deter hoarding of iron-ore in a bid to cool a surge in prices of the key steel-making material.

Mexico’s construction sector contracted 1.0% in January from December, statistics office Inegi said.

China will take more steps to stabilize industrial growth with a focus on key industries and areas.

The decrease expanded by 0.6 percentage points from that registered in January. On a monthly basis, China's PPI remained flat in February, according to the bureau.

Hunan developing reputation worldwide as a center of heavy industry expertise

"China's statement to actively seek CPTPP membership illustrates its attitude and determination to expand its opening-up," Gu said.