The vast majority of its business is in the flat steel sector, commercial head of flat and long products Pankaj Kumar Purohit told Argus. About 90pc of its tonnage is coils and sheets.

US hot-rolled coil (HRC) prices edged down recently as mills tried to maintain prices, but some lower offers were reported in the market.

Integrated steelmaker US Steel in October will take a scheduled blast furnace outage at its Mon Valley Works mill in Pennsylvania.

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Aim-listed Bushveld Minerals’ production for the three months ended March 31 increased on the back of continued operational stability and enhanced safety.

Xia Nong, an official at the National Development and Reform Commission, said while churning crude steel output, top priority must be given to stabilizing industry development and seeking steady growth.