Manufacturers are exploring alternatives to fulfil their supply chain demands but that would also take a substantial amount of time to reach stable production scale as these components would need regulatory testing, reiterated Mr Wadhera.

The European Steel Association has greeted the release of the Circular Economy Action plan.

According to the China Association of Automobile Manufacturers, Chinese auto sales in February plunged 79.1% year on year to only 310,000 units.

Angang high end pressure vessel steel settled in Huanqiu again

ferro-alloys.com:US steel production not smashed by Coronavirus

ferro-alloys.com:Steel output of China from Jan-Feb increases 3.1% in spite of coronavirus interruptions

A large iron ore deposit has been discovered in northern China's Shanxi Province, with an estimated reserve of around 310 million tonnes, local authorities said Thursday.

India's coal imports registered a decline of 14.1 per cent to 17.01 million tonnes (MT) in February in the wake of the coronavirus outbreak, as per industry data.