The Argus weekly domestic US ex-works plate assessment was flat at $1,620/st.

The federal government also has a renewable energy target of 82pc by 2030, up from around a third currently.

The firm maintained its 2022-23 financial year production guidance at 58mn-64mn t.

Market participants report significant advancements after Brazilian electricity regulator Aneel approved temporary rules for a new demand response program, but say there is still room for improvement.

The US shipped 139,162t to China in August, 88.8pc lower than a year earlier and 51.8pc lower than July.

JISPL's production plunged by 77pc on the year to 30,000t during July to September.

Volumes on the CME Group's north European hot-rolled coil (HRC) contract have already doubled compared to 2021.

India's largest iron ore producer state-controlled NMDC rolled over its prices for a second straight month in October.