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.

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

China imported a record 112.65 million metric tons of iron ore in July, up 24 percent on a yearly basis, said CNBC.

NLMK Lipetsk (Novolipetsk Steel,NLMK) has embarked on a project to construct a new continuous hot dip galvanizing line HDGL-5 with a capacity of 450,000 tonnes of steel per year.

The U.S. trade representative's office said that the U.S. is taking additional measures to limit the import of steel from Mexico and Brazil in the face of domestic market difficulties caused by the COVID-19 on Monday.

Electrical steel is vital for its use in the stators and rotors in the motor of an electric vehicle.

The China Tianjin Bulk Freight Index (TBI), an indicator of northern China's international bulk freight rates, stood at 830.12 points on Wednesday, up 1.71 percent compared with the previous working day.