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.

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.

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.

The unit's BF No 2 has been idle since July 2019, due to market conditions. The Tubarão complex's total capacity amounts to about 7.5 million tonne per year.

Business Standard reported that the outbreak of the deadly Covid-19 pandemic has queered the pitch for seamless continuity in operations of 21 iron ore, manganese and chromite mines in Odisha.

United States Steel Corporation announced a series of aggressive and meaningful actions to provide greater certainty on the company’s response to impacts from the coronavirus COVID-19 and the sudden, significant changes in global oil and gas markets.

Chongqing Iron & Steel (Group) saw a decrease of 48.22% on profit.

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.