The Argus weekly domestic US HRC index was flat at $1,200/st ex-works Midwest last week. Lead times fell to 7-8 weeks from 8-9 weeks.

Weak Polish thermal coal imports early in 2021 could tighten availability of fine grades, which until recently were oversupplied in the country.

China imported 3.57mn t of coking coal last month, down by 4pc from 3.72mn t in November.

China's transport ministry is expecting a big fall in travel during the lunar new year period.

Russian integrated steel producers NLMK, Severstal and MMK increased raw material production in 2020.

The country produced 30.14mn t of crude stainless steel in 2020, up by 2.51pc from 2019.

Urals-based MMK sold 5pc less steel in 2020, reaching 10.8mn t, of which 4.3mn t was hot-rolled coil (HRC), down by 3.8pc on the year.

China Taiyuan coal transaction price index stood at 143.89 points Monday, down 0.12 percent week on week.