The Argus 62pc lump premium stood at 20￠/dry metric tonne unit (dmtu) on 30 September, the highest since June.

BHP is the only one of the big four Western Australian iron ore mining firms to operate major coking coal exporting facilities.

Australian resources firm BHP has kept its iron ore production guidance for the 2022-23 fiscal year to 30 June unchanged with sustained output.

US steelmaker Nucor is expecting to roll its first plate at its new Brandenburg, Kentucky, mill by the end of the year.

Steel shipments from US mills fell in August as the market continued to deal with declining prices.

Japan and the US remained Vietnam's top two suppliers and accounted for 58pc of total imports in September.

High water storage levels at hydropower reservoirs have led Brazilian grid operator ONS and chamber of electric energy commercialization CCEE to launch a plan to export power to Argentina and Uruguay.

HRC lead times in the Midwest fell to 3-4 weeks from 4 weeks.