The company's saleable iron ore production stood at 1.08mn t over the three-month period, while sales edged up by 2pc against the previous year, to 1.34mn t.

Steelmaker Nucor is keeping its plate prices flat, just weeks after announcing lower pricing.

The company's saleable iron ore production stood at 1.08mn t over the three-month period, while sales edged up by 2pc against the previous year, to 1.34mn t.

"Our plant uses a lot of water and chemicals but unlike other jurisdictions will not produce a single litre of liquid waste," SRC president Mike Crabtree said.

Machine shop turnings price indications are expected to emerge later, but a sideways trend would leave prices at $130/gt.

Tata Steel approved a merger with its seven metal subsidiaries last month to increase operational efficiency and reduce costs.

Indian private-sector producer Tata Steel's sales rose by 7.2pc on the year in July-September, despite monsoon-led seasonal weakness.

Peru’s mining exports fell in the first eight months, the first accumulated year-on-year drop in 2022.