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.

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

The northwest European hot-rolled futures market continues to move into a steeper contango, as end users look to lock in forward prices which are low compared with their physical contract offers.

The August Japan Kanto tender was settled on 10 August at an average of ¥42,061/t ($311.56/t) fas for H2, equivalent to ¥43,061/t fob.

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

The longer the European scrap supply issue persists, the longer Turkish scrap import prices could remain at elevated levels.

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

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.