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 daily Argus ICX 62pc iron ore index was at $96.15/dry metric tonne today, down 19pc from a year earlier.

Japanese automaker Honda expects to boost its North American production in the fourth quarter as access to auto parts improves.

The plate delivered assessment rose by $8.25/st to $1,676.50/st.

Private construction was at a seasonally adjusted annual rate of $1.43tn, 0.6pc below the July estimate of $1.44tn.

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

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