Many steel enterprises saw profits drop by up to 90% in Q2 of this year, amid plunging steel prices.

Steel producer Hoa Phat Group has signed a contract to export 8,000 tonnes of rebar to Mexico, its first order from the North American country.

The European scrap supply system is highly dependent on inland river transportation.

The rise in trade deficit has been attributed to a surge in imports driven by elevated global commodity prices.

China's producer price index, which gauges factory-gate prices, increased 4.2 percent year-on-year in July, following a 6.1 percent rise from the previous month, the NBS said.

Vietnam's ferrous scrap imports in July fell to their second-lowest monthly level this year, as demand was dented by subdued production and weaker trading activity.

Lead times for CRC rose slightly to 6 weeks from 5-6 weeks while HDG lead times edged down to 4-5 weeks from 4-6 weeks.

BlueScope has set a goal of net-zero GHG emissions by 2050.