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US domestic raw steel production was 1,723,000 net tons while the capability utilization rate was 78.2 percent.

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

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

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

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

Swedish start-up H2 Green Steel has raised �190mn ($189mn) in a financing round, for its initiative to decarbonise steel production by around 95pc using renewable hydrogen.

More European steelmakers are announcing increases following ArcelorMittal's announcement last week.