Lower-grade iron ore contract prices will narrow or erase discounts in July, as spot differentials have gained further support from supply disruptions, product upgrades and margin pressures.

Steel is one of the sectors forecast to benefit the most from the agreement.

Non-prime steel or second-grade steel is not tested as per the relevant standards specification.

In the week ending on June 20, 2020, domestic raw steel production was 1,224,000 net tons while the capability utilization rate was 54.6 percent.

Japan's biggest carmaker Toyota Motor will maintain domestic production cuts next month but expects its July car output to recover from June's low.

One rail line was re-opened at 03:00 local time this morning but there is no firm restart date planned for the second line, a spokesman for TFR said.

The construction of a major bridge over the Yarlung Zangbo River in southwest China's Tibet Autonomous Region completed closure on Saturday.

Lleading UK based structural steel group Severfield plc announced its results for the 12 month period ended 31 March 2020.