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Vale is a major global producer of iron ore, copper and nickel.

Quench and tempered and normalized plate pricing both stayed flat at $2,385/st and $1,730/st, respectively.

Integrated steelmaker Cliffs and electric arc furnace (EAF) competitor Nucor were both said to be offering at $750/st.

In the April-June quarter, its loss amounted to Rs969m versus a loss of Rs509m in the same three-month period a year ago.

In the period, over 4 million tonnes of its products were sold, representing a year-on-year decrease of 22%.

In the period, over 4 million tonnes of its products were sold, representing a year-on-year decrease of 22%.

Normalized plate pricing also fell by $40/st to $1,730/st.

Liberty Steel is closing one of the three ovens at its Ostrava site in Czechia and there is a growing expectation that the company may idle its last two operational blast furnaces in Europe in the coming months.