Continued supply tightness of ferrous scrap and higher overseas demand for Turkish rebar has limited the immediate-term downside for Turkish imported scrap prices despite a fall in local rebar demand in Turkey this week.

The seaborne thermal coal market is oversupplied by around 40mn t and a demand-supply imbalance could persist for much of this year as the Covid-19 pandemic dents economic activity.

Japan's auto sales fell in March for a sixth straight month.

China's quick recovery from the Covid-19 outbreak has steadied iron ore prices this year, but global steel production cuts could divert 4mn-5mn t/month of iron ore to China and start to weigh on its spot markets, especially for pellet.

Australia's coal industry is reviewing plans for expansion and sustaining capital expenditure as they attempt to conserve cash amid fears that coal prices will return to a long period of historical lows below those seen in 2015-16.

The global steel industry is being impacted as our customers are hit by shutdowns.

The US produced 7.2 Mt of crude steel in March 2020, a decrease of 6.0% compared to March 2019.

China's power output increased in the first half of April as many industries resumed operations.