This week started off slow after the 4 July holiday fell on a Tuesday last week, with many taking off most if not all of the holiday week.

US hot-dipped galvanized (HDG) and cold-rolled coil (CRC) prices continued to increase after the holiday week.

"The Covid inflation shock is over for PPI," said Ian Shepherdson, chief economist at Pantheon Macro. "The Fed does not need to hike further."

Australian producer Whitehaven Coal expects the federal government's carbon-mitigation safeguard mechanism to cost the firm around A$1/t ($0.68/t) in 2023-24.

EU hot-rolled coil (HRC) imports increased sharply in May, according to Global Trade Tracker data, with all major suppliers lifting cleared volumes.

The global nickel market had a surplus of 11,900 metric tons in May, compared with a surplus of 13,900 tons in the same month last year, data from the International Nickel Study Group (INSG) showed on Tuesday.

Kazakhstan-UK Business Forum Facilitates Investment Partnerships in Mining, Critical Minerals

The tender result slightly exceeded initial expectations, which ranged between ¥49,000-49,500/t fas, but was still in a reasonable range if the buyer needs the volume, a Japanese trader said.