The period saw an 11% fall in Russian steel consumption to little over 19 million mt, according to Evraz.

"These difficult conditions make the industry even more vulnerable to surges in imports."

Vietnam spent more than 5.6 billion U.S. dollars importing over 9.7 million tons of steel and iron in the first eight months of this year.

As per the revised order, 38 blocks would be auctioned instead of previously announced 41.

Japan's steel exports were 2.4895 million tons in July, down 18.7% from a year earlier, up 2.75% from a month earlier, according to data released recently by the Japan Iron and Steel Federation.

For the period from April to June, Baosteel earned 2.47 billion yuan, a jump of 60.6% from the first quarter.

China's benchmark power coal price remained flat during the past week.

Of the 4.64 million tonnes of total steel exports, Vietnam and China bought 1.4 million tonnes and 1.3 million tonnes of steel respectively.