India’s JSW Steel expects a significant reduction in its capacity utilization rates during the country’s 21-day lockdown following its move to suspend or scale down operations across various locations, it said on Thursday March 26.

Domestic prices for steel rebar were unchanged in Northern Europe but slightly up in Southern Europe because of an increase in trading in Italy.

Prices in the CIS export billet market continued to slide on Wednesday April 1, in line with lower bids received amid the reduced trading activity.

Nationwide lockdowns and restrictions on activity to contain the Covid-19 pandemic could reduce the supply of iron ore in the seaborne market by around 18 million tonnes this year, according to mining company Vale.

Turkish steel producers remained quiet in the deep-sea scrap import markets while suppliers were unwilling to sell at current price levels, sources said on Wednesday April 1.

Major Japanese steelmaker JFE Steel is facing the prospect of recording zero profit for the year ending March 2020 for the first time in its history due to global economic tensions and rising raw materials prices, it warned on Friday March 27.

Anglo American is expecting a production impact of 2-3 million tonnes at its Kumba iron ore operations in 2020, following a decision to operate with around half of its workforce during a 21-day lockdown in South Africa that started this week.

Financial Express reported that Steel Authority of India has proposed to expand its capacity to 49.6 million tonnes per annum in its Vision 2030 programme.