China logged a record daily output of crude steel in August as the country's economic recovery consolidates, industry data showed.

For the period, the major providers included China, India, Japan and South Korea, according to the Vietnam Steel Association.

In July 2020, U.S. steel mills shipped 6,035,596 net tons.

Japanese ferrous scrap exports rose by 28pc in June from May to 883,157t, boosted by increased price competitiveness against US exports in Asia.

The American Iron and Steel Institute reported that for the month of July 2020, U.S. steel mills shipped 6,035,596 net tons.

Global steel production also registered a fall during the month under review, the data showed.

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.

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.