The move aims to protect the Thai domestic manufacturing sector.

During the month, the country splashed out 570.07 million USD on steel purchases, decreasing 28.8 percent from the same period last year.

800 largest Chinese enterprises in Britain increased revenue growth by 17 percent on 2018, according to a new report.

Mr Miyamoto said that another worry is higher prices of raw materials.

Crude steel production in Arab countries is expected to increase this year to around 29 million metric tons.

Iron ore prices have fallen 8.6% over the past five trading sessions despite supply tightening due weather events crimping exports from key exporters Australia and Brazil, latest data showed Monday.

The decline in coke prices came on the back of weakened demand, as Chinese steelmakers grapple with rising steel inventories amid a gloomy outlook on steel demand.

800 largest Chinese enterprises in Britain increased revenue growth by 17 percent on 2018, according to a new report.