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Indian steel industry’s gross spreads per tonne for both hot rolled coil (HRC) and rebar is expected to fall in the second quarter of FY21 with a further fall in steel prices due to oversupply, said India Ratings and Research in a sector report

Shipments by stockholders and distributors of EU multi-product & proximity steel, including long steel construction products, fell 8.7% in January-April from the year-ago period, with only rebar shipments increasing, Eurometal said.

The iron ore price is project to drop to $55/t fob by the end of this year's final quarter, the Australian treasury said.

In early July, the increase in US imports of ferrosilicon from Brazil triggered the largest price drop in the United States since 2008, completely reversing the upward trend of prices a few months ago.

The government is seeking to raise at least R$2,6bn ($480mn) from the sales, but it has not yet defined the target values for all projects.

Europe's silicon market is starting to show signs of recovery this week

China's benchmark power coal price dropped slightly during the past week.

Trade unions in the UK suggest they will not allow the end of blast furnace steel production.