In particular, mills with established long steel trade routes have been looking to offload the mounted pressure into Vietnam and China.

China's steel PMIs rebound in May as downstream demand ramps up

China rebar prices face pressure in June from rain slowing construction: traders

The World Steel Association (worldsteel) has recognised 9 companies as Steel Sustainability Champions for their work in 2019.

China's manufacturing strength could attract more steel exports: traders

China's two leading manufacturing purchasing managers' indices, or PMIs, were both in growth territory in May.

Gao Xiangming, chairman of TISCO, said the company's R&D expenses account for about 5 percent of its annual sales revenue.

The composite index for coastal bulk freight edged down 1.6 percent week on week to 1,055.6, the SSE said.