This was a 9.8% increase from the 2,262,000 permit tons recorded in December and a 12.7% increase from the December final imports total of 2,203,000.

The Argus weekly domestic US HRC Midwest and southern assessments both rose by $50/st to $900/st on Tuesday.

India remained a net importer of steel for the fourth consecutive month in January, with exports climbing to a seven-month high on increasing international demand.

A comparison of shipments for the full year 2022 to full year 2021 shows the following changes: corrosion-resistant sheet and strip down 8 percent, hot rolled sheet down 10 percent and cold rolled sheet down 15 percent.

Brazilian iron-ore miner Vale SA's profit fell in the fourth quarter after the price of iron ore and sales by volume both declined.

Russia plans to post a budget deficit in 2023 of 2% of gross domestic product (GDP), Finance Minister Anton Siluanov said on Friday, despite towering spending and slumping energy revenues contributing to a huge shortfall in January.

Russian Nornickel expects primary nickel demand rise to 3.35mn t in 2023.

In particular, the central and western regions are forecast to better receive foreign investment relocated from labor-intensive industries in coastal areas where labor costs have increased, they said.