Demand for long steel products from users in North China's Shanxi province has been recovering at a slow pace so far this month, while prices of these items are staying volatile, mainly on the dual support of macro policies and firm steelmaking raw materials costs, Mysteel's new report indicates.

After rolling over its rebar list prices for April and May, Kyoei Steel, Japan's largest rebar producer, has roared back with an increase in June of Yen 5,000/tonne ($32/t), the company announced on Wednesday, one of its largest single-month rises in recent memory.

The United States on Tuesday announced a significant increase in tariffs on a range of imported goods from China including steel, aluminum, battery parts, electric vehicles (EVs), semiconductors and medical products.