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Slovakia-based US Steel Kosice idled blast furnace two at its Slovakian site on 4 September for a 60-day stoppage.

Australian prime minister Anthony Albanese said the country will maintain its commitment to supply LNG and thermal coal to customers.

India's Federation of Indian Mineral Industries (FIMI) has urged the government to reconsider the proposal for mandatory beneficiation of low-grade iron ore, saying it is economically and technically unviable.

The company has also kept its Spanish Sestao electric arc furnace-based coils mill off line, given weak demand and high energy costs.

OMH H1 profit jumps to RM268.9 million

The producer will also stop a direct reduction plant in Hamburg, where it produces wire rod, from the fourth quarter.

European market leader ArcelorMittal is idling blast furnace A at its Asturias plant in Spain in response to weak demand.

Part of what will lead to increasing prices will be rising costs both for raw materials and energy, according to Kestenbaum.